LONDON - AUGUST 30: (FILE PHOTO) Members of the public take view of the interior of Battersea Power Station on August 30, 2008 in London, England. Chelsea FC are planning to construct a new stadium on the site containing the Grade II listed building. (Photo by Daniel Berehulak/Getty Images)
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.
-Ernst and Young, site administrators.
There's been some hope that SP Setia will allow Chelsea to build what would be a frankly awesome stadium next to the power station anyway, selling the club a chunk of the land acquired later on, but this strikes me as unlikely. They've received planning permission to build housing and office space, not planning permission to build whatever they want, and the local council (not to mention London) seems very unfriendly to the idea of there being actual iconic modern architecture in the area. And Chelsea still don't really own the Stamford Bridge freehold either.
Unless something really neato happens (and don't bet on it) it's back to the drawing board on a new stadium.