Chelsea look past Stamford Bridge with Battersea Power Station offer

Chelsea are preparing for a potential life away from Stamford Bridge after confirming they have made an offer to buy the site of Battersea Power Station in a deal that could top £1bn, the Daily Telegraph has reported.

A new stadium has long been on the agenda for Roman Abramovich but a club statement stressed that the tabling of the bid did not mean the club was committed to leaving their current home. Chelsea are one of a number of interested parties in the site that, according to the Telegraph, was recently valued at £500m.

The cost of constructing a new stadium on the site would be expected to equal or surpass the £390m Arsenal spent on the Emirates Stadium, while an investment of £100m into transport links to make the new stadium more accessible would take the expense past the £1bn mark. Finance for the development would be sought through selling and redeveloping Stamford Bridge.

If completed, the new stadium would have a capacity of over 60,000 but not be ready any time before 2016.

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