Chelsea owner redevelops Stadium for £1billion

After he was denied a visa top work in Britain, Roman Abramovich has put a kitty worth  £1bn to renovate the  Chelsea’s Stamford Bridge stadium.

The stadium is been redeveloped to hold a capacity of  60,000 people. According to the club through a statement,  the “current unfavourable investment climate” is as a key factor in their reasoning, yet the Home Office’s delay in renewing Abramovich’s visa, which had expired, is understood to have prompted the owner’s decision to shelve the scheme.

The Chelsea tycoon is not ready to invest in a country where he has been denied visa. How ever he has been a regular visitor of Britain since owning Chelsea in 2003 but does not hold an employment position.

He is currently an Israeli citizen and the  the 51-year-old was to move to Tel Aviv. Although he would be able to visit the UK visa-free for up to six months at a time on his Israeli passport, Downing Street has confirmed he would not be permitted to work in this country.

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