Chelsea stadium plans put on hold due to financial conditions

Chelsea have delayed the construction of their new stadium due to "unfavourable financial conditions."

The club were granted permission to build a new 60,000-seater stadium in March, but a string of delays has increased the cost to £1bn.

The rise in price has forced the club to put the construction plans on hold for the time being.

"No further pre-construction design and planning work will occur," a statement on the club's website said.

"The club does not have a timeframe set for reconsideration of its decision."

The setback comes soon after Chelsea's owner Roman Abramovich was denied a visa to work in Britain, meaning that the Russian billionaire had to gain citizenship in Israel.