Chelsea has submitted an offer to buy London's Battersea Power Station with a view to building a new stadium on the site of the landmark that looms over the River Thames.
The Premier League club has developed plans for a 60,000-seat stadium on the site of the derelict plant to preserve the four white, 300-foot chimneys that famously feature on the cover of a Pink Floyd album.
"Battersea Power Station is one of London's most famous buildings and has the potential to become one of the most iconic football stadiums in the world," Chelsea said Friday.
The club cautioned that the sales process "could run for a number of months."
"We must also stress that making an offer for the Battersea Power Station site does not mean the club has made a definitive decision to leave Stamford Bridge," the west London club said.
The plant is three miles (4.8 kilometers) from the 41,800-capacity Stamford Bridge, which is only the eighth largest Premier League venue. A larger stadium would boost income to help comply with UEFA's new financial controls by bringing in higher revenue from ticket sales.
"We are not the only interested parties and there is no certainty that we will be successful," Chelsea said. "We also appreciate that we have many significant hurdles to address if we are to build a new stadium on the site, including winning the support of our fans."
Last year, owner Roman Abramovich failed to buy back the ownership rights of Stamford Bridge from fans so the land could be sold to fund a move.
Chelsea will be hoping its plans for the Battersea site, which has been vacant since 1983, are beset with fewer problems than the 1976 photo shoot for the Pink Floyd album, "Animals."
It went disastrously wrong when a 40-foot (12-meter) inflatable pig above the plant broke loose from its mooring and floated into the flight path for Heathrow Airport.