Following Chelsea Football Club's proposal to buy back the freehold land on which the football stadium at Stamford Bridge sits on, Chelsea Pitch Owners chairman Richard King spoke to Chelsea FC's matchday programme.
Who are the CPO directors?
I've been chairman for eight years. Bob Sewell has been company secretary since 1994 and a director since 2001. Rick Glanvill joined the board this year and brings a wealth of knowledge of the club's history and has a wide contact base of fellow Chelsea supporters.
You've often been criticised for being too close to the club?
CPO was formed by Chelsea to protect Chelsea. Both CFC and CPO had a close working relationship long before I became involved.
Is CPO supporting Chelsea's proposal?
As directors of CPO, we had an obligation to ensure shareholders could discuss the club's proposal and then vote on it. We've neither supported nor opposed the proposal. It's for shareholders to decide, not us.
We are working with advisors to ensure everything is being done properly so shareholders can make the decision.
There is concern that some shareholders have not received the voting pack?
We've tried our hardest to keep the database up to date, but it's difficult when shareholders don't inform us of changes of address or circumstances.
We have implemented a process for shareholders to update their details and receive the pack.
How will you be voting?
I am keeping that to myself, as I don't think it is right for me to try to influence shareholders eitherway.
I will say that I do find it difficult. Like many shareholders, I have been watching Chelsea for years. Chelsea, to me, means Stamford Bridge and I have spent thousands of hours at the ground. It is like a second home.
On the other hand, I do understand that, because of its location, the stadium can't be extended. With
Financial Fair Play rules to come, we need a bigger stadium to compete. Finishing below Spurs, because they have a bigger stadium and therefore a stronger squad than us, is too awful to contemplate.