Portsmouth Football Club has delayed its plans to develop a new stadium and 750 homes with Irvine Sellar’s Sellar Property Group.

The football club said that due to the impact of the credit crunch on housing demand and a lack of bank-lending for major projects, it had decided to progress its plans in two stages.

The first stage will see a redevelopment of the club’s current ground, Fratton Park, to add a further 10,000 seats to the 20,000 seat stadium.

It will also develop a supermarket, a new club shop, ticket office and club offices.

The second stage will be the development of the scheme with Sellar.

Portsmouth said it would aim to complete the project in time for the Football Association’s 2018 and 2002 World Cup bids. It had been hoping to open the scheme in August 2011.

When Portsmouth FC moves to the new stadium the 7.5 acre Fratton Park site will be sold for residential development.