The possibility of moving the Eagles to a revamped national sports centre in Crystal Palace was investigated, according to Palace chairman Simon Jordan.
Speculation was rife during his dispute with Ron Noades that the Palace chairman was researching possible alternatives to Selhurst Park if the club was forced to move.
But Jordan admitted a possible move to the site was never likely to happen.
"We looked very closely at it because it's probably in one of the ideal locations for a football club," said Jordan.
"But the reality is that it's not going to happen. For whatever reason, it's not a viable project.
"We looked at all opportunities, but owning the freehold of this stadium is where we are now.
"What happens in the future, we don't know, but at this moment in time the freehold of Selhurst Park is what the fans wanted and it's what they have got."
Jordan indicated improving Selhurst Park is his main priority.
"I'm not going to spend the money in buying the stadium and not acknowledge some of the perculiarities of the ground that need some investment, " he added.
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