Chelsea are seeking to borrow £500 million to fund the building of their new stadium rather than rely on Roman Abramovich to pay for it.

The club received planning permission for the 60,000-seat redevelopment of Stamford Bridge from Hammersmith and Fulham Council in January — a decision endorsed by the mayor of London in March — but have yet to confirm how they intend to fund one of the most ambitious stadium redesigns attempted in the UK.

Abramovich has spent more than £1 billion on Chelsea since buying the club in 2003 PHIL SHEPHARD-LEWIS FOR THE TIMES

Abramovich has spent more than £1 billion on Chelsea since buying the club in 2003, and it has been widely reported that he is willing to foot the bill for the stadium, but the board is now pursuing other options. The Times has learnt that Chelsea have held