A rumour I've heard a while ago from a couple of well connected scum mates and now doing the rounds on twitter....http://www.bluetinted.com/rod-crowley/dreaming-a-dream-by-the-old-canal/
I grew up on Barlby Road, The local residents would object I think. Also I don't think they would ever sort out the traffic problems either. Not gonna say it won't happen (never say never) but I really have major doubts.
I think the QPR poster at the end of the comments sums it all up quite well. Chelsea were always popular south of the river anyway, we don't they try carshalton or roehampton for stadiums.
Cobham or Esher perhaps? Barlby Road would be a nightmare traffic-wise and I'm sure the NIMBYs of Ladbroke Grove would be choking on their skinny lattes...