Chelsea’s Battersea bid ‘way off the pace’

Champions League winner Chelsea Football Club will almost certainly fail in its bid to move its stadium to London landmark and Nama-owned Battersea Power Station, a source close to the sale process has revealed.

About 15 bidders including Chelsea — which is owned by Russian billionaire Roman Abramovich — submitted plans earlier this month to buy the protected 15-hectare site on the south bank of the River Thames.

The power station has been the subject of repeated failed redevelopment attempts in the three decades since it shut.