Friday 17 November 2017

Abramovich in stadium blow

Roman Abramovich lost the battle for Stamford Bridge yesterday as Chelsea fans revolted against his bid to buy the land on which the stadium sits.

Billionaire Blues owner Abramovich and his board were forced to rethink their proposal to Chelsea Pitch Owners, which was seen as a precursor to a move to a new stadium, after it was voted down at a dramatic EGM.

Chelsea failed to convince the holders of 75pc or more of the shares in CPO to back them.

The plan was supported by 61.6pc of the 5,796 votes cast in person or by proxy, leaving the club 13.4pc short of their target. "Roman's disappointed, but he respects that Chelsea Pitch Owners have spoken," said Chelsea chairman Bruce Buck.

The outcome prevented Chelsea regaining ownership of the land they sold to supporter-led group CPO in the 1990s in order to ensure the club was not made homeless by property developers.

Irish Independent

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