Chelsea loses bid to buy land for new venue site

BY foxsports • June 7, 2012

Chelsea lost its bid to buy a London power station, a landmark site that looms over the River Thames where the Premier League Champions planned to build a new stadium.

The club submitted an offer to buy the Battersea Power Station last month after developing plans for a 60,000-seat stadium on the site of the derelict plant whose four white, 300-foot chimneys famously feature on the cover of the Pink Floyd album ''Animals.''

The plant's administrators said Wednesday that a joint bid by two Malaysian companies - SP Setia and Sime Darby - had been chosen to develop the site that has been vacant since 1983.

Chelsea's 41,800-seat stadium at Stamford Bridge in West London is the eighth-largest Premier League venue.

A larger stadium would potentially boost income to help comply with European football's new financial controls by bringing in more revenue from ticket sales.

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