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


Live Blog Transfer Window Live 18th August

 

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

Sunday, August 30, 2015
Alex Song in action for West Ham  (Photo by Jamie McDonald/Getty Images)

All the transfer news and gossip from Sunday morning’s newspapers.

Sunday, August 30, 2015
Alan Pardew and Jose Mourinho greet after the final whistle. (Photo by Paul Gilham/Getty Images)

Jose Mourinho admits the historically mid-table Premier League sides will keep causing problems for the big names.

Sunday, August 30, 2015
Bakary Sako (L) of Crystal Palace celebrates with his team mate Yannick Bolasie (R).  (Photo by Paul Gilham/Getty Images)

Crystal Palace pulled off a memorable 2-1 win at Stamford Bridge on Saturday afternoon and we’ve picked out the best images.

Sunday, August 30, 2015
Radamel Falcao of Chelsea celebrates scoring his team's first goal during the Barclays Premier League match between Chelsea and Crystal Palace.  (Photo by Paul Gilham/Getty Images)

Radamel Falcao is off the mark for Chelsea and Jose Mourinho believes it will be a huge confidence boost for the forward.

Sunday, August 30, 2015
Kenedy of Chelsea during a training session (Photo by Jordan Mansfield/Getty Images)

Jose Mourinho revealed Cesar Azpilicueta was not injured in Saturday’s 2-1 home defeat to Crystal Palace.

What is this?

Near You Now

Don't Miss...

Competitions

Shop till you drop!

Home to top name brands at great prices, TK Maxx is more like a treasure hunt than a shop. Perfect for grabbing a bargain or some hidden gems, you arm yourself with a trolley and go wild.

Read more
Scones, jam and a cup of Earl Grey anyone?

Luxury boutique hotel Flemings Mayfair has recently launched The Drawing Room, London’s most stylish location for afternoon tea.

Read more
Free weekly shop? Yes please!

Win £200 to spend at Asda, one of the country’s leading supermarkets. Asda prides itself in being one of the cheapest places to shop, so you can be sure that your money will go a long way here.

Read more