Credit crunch claims new Pompey stadium

The credit crunch has forced Portsmouth to shelve plans for a new stadium and concentrate instead on expanding Fratton Park, the struggling Premier League club has confirmed.

Portsmouth’s growth potential is restricted by their current ground’s capacity of just over 20,000, which the club now hopes to expand to 30,000 by 2011.

“The issue of the ‘credit crunch’ has affected housing and almost all other developments, as well as lenders’ attitudes to large projects,” the club said in explanation of the decision.

Portsmouth still hope to go ahead with the new stadium and have it finished in time for it to be considered as a venue for World Cup venues in the event of England winning the 2018 or 2022 tournament.