Chelsea FC outbid for Battersea Power Station by Malaysian developers

[Tricky 301]

Question.

With FFP in force do you really believe we could afford the drop in revenues of redeveloping the Bridge? The whole ground would need gutting, not just one or two stands. Plus the cost of the expansion is prohibitive (20k a seat was the last figure quoted) given mac capacity would increase by 10k.

No deal has been struck, Malaysians could turn out to lack the necessary funding / be rejected by planning.

We need this site, it pains me but we have to leave the Bridge in order to grow as a club.

[Slam Dunk 1,442]

FFP rules do not count stadium development/building towards expenditure as far as I know. If we were to redevelop the Bridge, I'd imagine we'd play at another ground, because as you've mentioned, it isn't a modern stadium and large areas of it would need updating.

Where we'd play though is another question entirely...

Of course as you've said, there is a chance the Malaysian investors could pull out of the deal. Although, considering they've agreed to meet the conditions of the site set by the council, it seems very unlikely.

[Duppy Conqueror 1,494]

does anyone know if it was a sealed bid or a bidding war that Roman thought got out of hand ,so pulled out?

for me i think that is something that would be interesting to know.

*for anyone who doesnt understand what a "sealed bid" is ,it`s when the selling party tell potential bidding parties to come in with their best bid with just one bid allowed,the amount is kept private away from the opposition and whoever bids highest with their single bid wins.

if it was a sealed bid i think i understand how Roman managed to get outbid,rather than him pulling out of a bidding war.

[Slam Dunk 1,442]

I really doubt it was a bidding war, considering there were 15+ candidates interested in the site. All I know is that the council had conditions that the prospective bidders had to meet with their plans (rail extensions/local area redevelopment/etc), so I imagine that would have been a big factor when the proposals were being considered.

The 'preferred bidders' as they are now called (the Malaysian property developers) have promised a new underground station, as well as the extensions of the Northern Line. They're saying that they are looking to regenerate south-west london, which means it'll probably be a shopping centre/housing.

Such a disappointing outcome/bad choice. This would truly have been iconic.

[Duppy Conqueror 1,494]

didn't realise it was that many after it. (i don't read newspapers atall anymore)

yeah sealed bid seems how it was then with that many involved. cheers mate.

[Tricky 301]

does anyone know if it was a sealed bid or a bidding war that Roman thought got out of hand ,so pulled out?

for me i think that is something that would be interesting to know.

*for anyone who doesnt understand what a "sealed bid" is ,it`s when the selling party tell potential bidding parties to come in with their best bid with just one bid allowed,the amount is kept private away from the opposition and whoever bids highest with their single bid wins.

if it was a sealed bid i think i understand how Roman managed to get outbid,rather than him pulling out of a bidding war.

My point was a reduced capacity would impact revenues, thus effecting us in terms of FFP.

I just don't see developing the Bridge as a viable option. Unless the council help with some enforced purchasing of land (very unlikely). We need a 60k plus stadium, 50 just isn't big enough IMO.

Oh and for the record it was a sealed bid.

I'm not ruling out the Malaysians failing to find the funding (long shot). Was talk of the development costing £5 billion, besides does south west London really need another mega mall following westfields in the Bush?