Chelsea Stadium News: Battersea Power Station To Enter Administration

In news that probably has something to do with the attempted Chelsea Pitch Owners buyout a few months ago, the Battersea Power Station is about to enter administration. Its owners, Irish group Real Estate Opportunities, have been unable to repay the debt held against the building, and so Lloyds will be trying to sell it as quickly as possible.

Obviously, that means that Chelsea now have the ability to go out and secure a site that many have suggested as a potential location for a new stadium. With Lloyds still owed £324M on the deal and the bank refusing to sell for £262M, it would appear that the price for the land would end up in the £300M area, and there are also concerns about transportation and the design constraints of having a giant listed brick building that appears to be about to fall down on the site.

There's also some hope that the proposed housing development at Earls Court may run into issues that will allow Chelsea to swoop in after their initial planning application was rejected, but from the sound of things there'll just be some tweaking required before the GLA allows it through. One would have to imagine that if Chelsea do somehow get hold of Earls Court, it would be the first-choice for any new stadium should the club ever move away from Stamford Bridge, but a successful re-development there could essentially force them into Battersea.