Portsmouth have postponed plans to build a new stadium because of the credit crunch. The Premier League club will instead focus on redeveloping Fratton Park to boost capacity to 30,000 by the beginning of the 2011-12 season.

The club still hope to have their new Port Solent stadium ready in time for it to be considered as a World Cup venue, should England be successful in winning hosting rights for 2018 or 2022.

A statement on the club's official website read: "The issue of the credit crunch has affected housing and almost all other developments, as well as lenders' attitudes to large projects."

Once the club have completed their move to their new stadium, the 7.5-acre Fratton Park will be sold for residential development.