Chelsea have revealed that owner Roman Abramovich will not be putting any money for the development of a new stadium at the proposed Battersea Power Station.

Chelsea recently revealed that they had submitted a bid for the iconic building, which will then be converted into a stadium that can seat up to 60,000 people. It will put Chelsea amongst the likes of Arsenal and Manchester United when it comes to the ground capacity.

The club are currently struggling to match the gate revenues generated by the two aforementioned clubs. The move to Battersea Power Station is due to the fact that the club have exhausted the options when it comes to redeveloping Stamford Bridge.

Chelsea need to convince the Chelsea pitch holders that they will have a fantastic stadium that will allow them to compete with the best clubs in the world. Chelsea’s current capacity of 41,000 people is way below the standards set by the likes of Real Madrid, Barcelona, and Manchester United. These clubs have capacities close to 100,000 people. Due to the fact that Chelsea generate significantly lower get revenues from matchday income, they depend upon their owner for the fundings. Chelsea say that this move will make them self-sufficient.

“The four iconic chimneys and wash towers, along with the Grade II-listed west turbine hall and control room, will be restored and retained in their original locations and provide a unique architectural backdrop to a world-class stadium with a capacity of around 60,000 seats,” a statement said on the official website of the Chelsea football club. It is thought that the stadium will need around £ 600 million to build including the land, but most of the funding will be coming from the sale of Stamford Bridge and the surrounding regions according to Chelsea.