With the recent increase in media coverage regarding the redevelopment of Stamford Bridge, and the subsequent range of social media opinion, I am providing an update to clarify the position and role of CPO.
As you probably know, the principal objective of CPO is, and has always been, to "acquire a freehold interest in the land upon which Chelsea Football Ground, Stamford Bridge, Fulham Road, London SW6 is situated, and to ensure that the land is available for use as a Football Stadium and uses ancillary thereto and unavailable for development for other use”.
Should the Club ask for permission to play first team football at any other ground (whether temporarily or permanently), it would be a matter for shareholders and not the Board to decide whether to grant that permission as the Board would put the matter to a vote at an extraordinary general meeting.
CPO has not yet been informed of any decision made by the Club on its future plans for the stadium. We believe their decision is due to be finalised shortly, having worked through all the available options. Board members may choose to make their own views clear on the process but cannot of course do so until there is a proposal, and its detail can be properly considered.
As we understand it, although the purchase of the Stoll site has been agreed, it will be some considerable time before the site can be vacated. In addition, a new planning application would be required, even though some of that work was done during the earlier project under Roman Abramovich. Once an application has been approved, estimates on the time required for demolition and rebuild vary from four years up to as much as seven years, during which time the Club would need to relocate its home games.
On any vote on a proposal from the Club, an individual’s voting rights are limited by the Articles of the Company to ensure that no one person or group of people has an undue influence over a vote that would be open to 14,000+ shareholders. This ensures that every vote is important, no matter how many shares you have. We do still need to keep selling shares during the redevelopment process. Please help by telling family, friends, colleagues and supporters about CPO to encourage them to buy shares. All the information needed can be found on our Buy a Share page.
As and when the Board is advised of any further developments, we will provide as much information as possible to allow you to form an opinion and vote accordingly at the appropriate time. If you have any questions please contact us via email [email protected]
Thank you as always for being a Chelsea Pitch Owner.
Chelsea Pitch Owners PLC