Chelsea Football Club have confirmed their bid to buy Battersea Power Station in southwest London in the hope of developing it into a 60,000-seat stadium.
The club have promised to keep the building's iconic chimneys as part of the design for the stadium, which could replace Stamford Bridge if their bid is accepted.
They said in a statement: "Chelsea Football Club can confirm to our fans that we have today submitted an offer, with our property development partner Almacantar, to acquire the 39-acre Battersea Power Station site.
"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.
"Our joint bid was submitted in accordance with the sales process established by the Joint Administrators for the site. The process could run for a number of months."
The move from Stamford Bridge is set to be a tough one after a relocation row with the Chelsea Pitch Owners [CPO], a company owned by fans of the club who bought the pitch at the stadium in 1997 to protect it from developers.
The current owner, Roman Abramovich, had a bid by the CPO rejected in October last year after they accused him of not making enough of an effort to stay at Stamford Bridge.
Chelsea acknowledged that it was not the only party interested in the site.
"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, the CPO shareholders and local Wandsworth residents, as well as securing the approval of Wandsworth Council, the Greater London Authority and heritage authorities.
"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," they added.
"We will keep our fans updated as the process develops."