Chelsea have failed in their attempt to build a new 60,000-seater stadium at London’s Battersea Power Station.

Last month the European champions said they wanted to buy the 15.8-hectare site. Its centrepiece is a giant red-brick power station and four huge chimney stacks that were depicted on the cover of Pink Floyd’s 1977 album, Animals.

Chelsea are keen to move from their Stamford Bridge home in west London as its capacity of 42,000 means they lose matchday revenue in comparison to Premier League rivals Manchester United and Arsenal, who have far bigger grounds.

However, administrators say the power station site will instead go to two Malaysian companies – SP Setia and Sime Darby – who have a plan for a “multi-use real estate regeneration project”.

Battersea Power Station, the largest brick building in Europe, ceased to provide electricity in 1983 but is now a heritage-listed building.

Various plans to redevelop the site over the years have stalled, prompting Chelsea to launch their bid for a new ground.