By David Gold
May 4 – Chelsea have bid to purchase Battersea Power Station with a view to building a 60,000 seater stadium at the venue.
The club released a statement confirming the bid, and say that they are not the only party interesting in buying the site.
In the bid, submitted with property development company Almacantar, they have also pledged to retain the four iconic chimneys at the 39-acre site, but also said they had not definitely decided to leave Stamford Bridge.
Chelsea appointed Almacantar chief executive Mike Hussey to investigate the possibility of moving to Battersea last year.
Battersea Power Station has been empty for almost 20 years, and has significant debts to a number of creditors, including Lloyds Banking Group.
“There is no certainty that we will be successful,” said the Premier League side.
“We must also stress that making an offer for the Battersea Power Station site does not mean the club has made a definitive decision to leave Stamford Bridge.”
Chelsea would look to develop shops, housing and offices as part of the plans, while they would also be contributing to the extension of the Northern Line service to the area.
Key for the club is the ability to own a bigger stadium that can compete with Arsenal’s 60,000-capacity Emirates Stadium and Manchester United’s 76,000-seater Old Trafford ground.
Chelsea are also battling to meet the requirements of UEFA’s new Financial Fair Play (FFP) initiative, which requires clubs to break-even long term.
Having posted significant losses again last year, and with the prospect of missing out on the Champions League next season a real possibility, Chelsea are urgently in search of new revenues.
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