Chelsea Football Club has failed in their attempt to build a new 60,000-seater stadium at London's Battersea Power Station.
The Blues stated their intentions to buy the iconic 39-acre (15.8-hectare) site and turn it into a new home befitting their status as current European champions. Original plans for the giant red-brick power station and four giant chimney stacks looked extremely impressive but were not enough as the club failed in its bid.
Administrators of the site announced a joint bid by two Malaysian companies - SP Setia and Sime Darby - for a "multi-use real estate regeneration project" had been chosen instead for the power station site.
Chelsea were keen on a move away from their historic home at Stamford Bridge as its capacity of 42,000 is seen as a major disadvantage in comparison to the matchday revenue of Premier League rivals Manchester United and Arsenal, who have far bigger grounds.
A club statement read: "We are disappointed not to be selected as the preferred bidder for Battersea Power Station, as we believe we can create an iconic and architecturally significant stadium on the site in a scheme which is commercially viable and of great benefit to the Wandsworth community and London generally. We have been clear throughout this process that Battersea is one of a limited number of options the club is considering."
Posted on 09/06/2012