Chelsea have failed in their bid to build a new stadium at Battersea Power Station.
Last month the Blues revealed that they had submitted an application to move to the 39-acre site in Wandsworth, but administrators have now revealed that a joint bid by two Malaysian companies - SP Setia and Sime Darby - had been chosen instead.
A statement from Ernst & Young read: "Following an extensive global marketing campaign, undertaken by Ernst & Young Real Estate Corporate Finance and Knight Frank LLP, the Joint Administrators are pleased to announce that on Wednesday 6 June 2012 they entered into an exclusivity agreement with SP Setia and Sime Darby."
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