Battersea blues: Chelsea powerless as Malaysian consortium completes on Power Station purchase
Roman Abramovich will have to look elsewhere for a new ground as hopes for a new Blues stadium at the Power Station are ended
Roman Abramovich's bold plans for a new Chelsea stadium at Battersea Power Station have been shattered after the Malaysian consortium that won the bidding process for the London landmark today completed their purchase.
The Blues are looking to leave Stamford Bridge to increase commercial and non-matchday revenue as well as gaining an increased capacity, and had lodged a bid for the iconic site on the south bank of the Thames.
The price for the 390-acre site is around £400million and the development will be mainly retail and residential properties.
The west Londoners released plans in May that detailed how they hoped to turn the derelict site in to a 60,000-seater stadium incorporating the four famous chimneys.
Administrators Ernst & Young revealed last month that they had shunned the Blues' offer, opting instead to name a Malaysian consortium as the preferred bidders .
And after a 28-day due diligence process, the consortium's bid has been rubber-stamped.
"Following a global marketing process that started in February 2012 and covered all major world wealth centres, a consortium comprising SP Setia, Sime Darby and the Employees' Pension Fund of Malaysia have exchanged contracts on the (Battersea) site for £400m," a statement from Ernst & Young read.
The consortium have planning consent to build 3,500 homes and 1.7 million square feet of office space. They also plan to build a tube station on the premises that will connect to the Northern Line.
Last year Chelsea failed in their bid to buy back the freehold of the 42,000-capacity Stamford Bridge from supporters group Chelsea Pitch Owners.
asyik kalah je pak roman bab beli tanah nih
ngan EPF pon kalah ke
kira bab melobi ni m'sia mmang world champ la...
hari ni ada game chelsea lwn el zamalek...
tp ni chelsea version ghana punye...
nama jolokan pun the blues...
di inspirasi kan dr club abg nye yg chempion...
ape2 pun aku ttp sokong asal kan dr keturunan chelsea...
hahahaha...
go berekum berukum go.. go chelsea chelsea gooooooooooooooooo..........
hari ni ada game chelsea lwn el zamalek...
tp ni chelsea version ghana punye...
nama jolokan pun the blues...
di inspirasi kan dr club abg nye yg chempion...
ape2 pun aku ttp sokong asal kan dr keturunan chelsea...
hahahaha...
go berekum berukum go.. go chelsea chelsea gooooooooooooooooo..........
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