Chelsea Defeated In Bid For Battersea

Chelsea FC has revealed its disappointment after a Malaysian company was chosen as the preferred bidder for Battersea Power Station, after joint administrators from Ernst and Young announced that it had entered into an exclusivity agreement with SP Setia and Sime Darby.

There is believed to have been 15 bidders for the 39-acre (15 hectare) site on the south bank of the River Thames in London.

Chelsea had wanted to turn the site into an “iconic” stadium, however, as it is a private sale it has not been revealed what the Malaysian company plans to do with the site beyond the description of a “multi-use real estate regeneration project”.

Planning permission to restore the power station, build new homes and create a London Underground station on the Northern Line already exists.