Chelsea stadium plans dealt major blow as Battersea Power Station bid rejected

11:28 07 June 2012

Chelsea have lost out in their bid to move to Battersea Power Station. Photo: Dominic Lipsinki/PA Wire

Chelsea have lost out in their bid to move to Battersea Power Station. Photo: Dominic Lipsinki/PA Wire

PA Wire/Press Association Images

Chelsea have failed in their quest to build a new stadium at Battersea Power Station after the administrators revealed they had chosen a joint bid by two Malaysian companies - SP Setia and Sime Darby.

The European champions are considering moving away from their Stamford Bridge home as they believe the facilities prevent them from bringing in the matchday revenue that Arsenal and Manchester United, who have much bigger stadiums, can bring in.

A statement from Ernst & Young read: “Following an extensive global marketing campaign, undertaken by Ernst & Young Real Estate Corporate Finance and Knight Frank LLP, the Joint Administrators are pleased to announce that on Wednesday 6 June 2012 they entered into an exclusivity agreement with SP Setia and Sime Darby and are working towards a timely exchange and completion of the site and associated land.”

SP Setia and Sime Derby announced in a release to the Malaysian stock exchange this morning that their £400million “multi-use real estate regeneration project” bid had been successful.

The companies also plan to build a tube station on the premises that will connect to the Northern Line.

Related articles

Sign up for our news alerts today!

Our editors' picks for the day's top news delivered to your inbox or phone.

Sign up for email alerts Sign up for mobile alerts
1
2 3 4 5 6
7

Latest Chelsea news

Tuesday, May 3, 2016
Tempers flare between Chelsea and Tottenham players and staff after the Barclays Premier League match (Credit: John Walton)

Guus Hiddink says he tried to get Cesc Fabregas into the Stamford Bridge changing rooms in the post-match jostling because he understood the Spanish comments flying about.

Tuesday, May 3, 2016
West Ham United's Mark Noble celebrates scoring his side's third goal of the game with Andy Carroll (pic: Nick Potts/PA)

It was a mixed weekend for London’s clubs with two wins, a draw and of course the memorable 2-2 between Chelsea and Spurs but who did enough to make our team of the week?

Tuesday, May 3, 2016
Mauricio Pochettino speaks with Guus Hiddink (Photo by Ian Walton/Getty Images)

Claudio Ranieri called Guus Hiddink to thank Chelsea for their role in handing Leicester the Barclays Premier League title.

Tuesday, May 3, 2016
Gary Cahill of Chelsea turns away to celebrate after scoring his team's first goal  (Photo by Shaun Botterill/Getty Images)

Chelsea’s late point against Spurs last night handed Leicester the Premier League title and prompted Sky Bet’s biggest ever outright pay out as £4.6million was paid to punters.

Tuesday, May 3, 2016
Chelsea manager Jose Mourinho

Jose Mourinho’s Premier League crown was taken by Leicester and Claudio Ranieri last night and the former Chelsea boss says he couldn’t be happier.

What is this?

Near You Now

Don't Miss...

Competitions

Kindle 7 inch tablet

Are you looking for a brand new gadget to help you stay connected on the go and make that long journey home a bit more entertaining? Look no further. MyOffers is giving you the chance to win 1 of 50 Kindle Fire 7” Display Tablets! That’s 50 times more chances to win, so hurry up and enter our competition today and you could be one of our lucky winners!

Read more
Yummy traditional afternoon teas for two

MyOffers is giving you the chance to win 1 of 50 Traditional Afternoon Teas for two at a location of your choice! That’s 50 times more chances to win, so hurry up and enter our competition today and you could be one of our lucky winners!

Read more

Latest Tech News

Transport