Roman Abramovich has put his £1 billion redevelopment plan for Stamford Bridge on hold after suffering continued delays of his visa.

A 49-word statement published on their website pointed to the “current unfavorable investment climate” as a key factor in their reasoning.

But the delay is understood to be prompted by Abramovic's visa issues.

Abramovich is apparently reluctant to invest heavily in a major project in the capital of a country where he is not allowed to work. 

The Jerusalem Post reported on Thursday that the 51-year-old had withdrawn his request for a British investor visa, with his previous tier-1 visa, which allows anyone who invests more than £2 million in the British economy to stay for 40 months, having been granted before tighter regulations were introduced in April 2015.

Chelsea are insistent Abramovich remains as committed to the football club as ever.