WHY WRITE THIS BLOG?

This site has been set up by genuine CHELSEA fans to keep all true supporters aware of what is happening regarding our home STAMFORD BRIDGE. It’s purpose is for an open discussion, without any vested interest or propaganda as other sites purvey. The future of our club and where we play, is very important and we the fans have a very big part to play in that decision, particularly being the only club in the EPL whose fans own the club name and pitch. Vital questions now need to be addressed by the club. Worrying developments have occurred over the last 15 months and we as fans need to know exactly what is happening.

Most CHELSEA fans are aware over 25 years ago STAMFORD BRIDGE was almost lost to the club, through property speculators wanting to bulldoze the stadium and build a housing estate on the present site. The site at that time, once developed was valued at £40m, which would have created a massive potential return for the developers. Ken Bates the then chairman, saved the day, saw off the speculators and set up the Chelsea Pitch Owners (CPO), where all supporters were encouraged to buy a share for £100 to protect the club from ever falling into similar danger in the future. Over the last 20 years, approximately 15000 people have bought shares and they are still available to purchase at the same price today – which we would encourage all fans to do, to ensure that the future of our club is upheld.

In October 2011, CPO share holders were informed that Roman Abramovich wished to buy back all the shares at £100 each, Bruce Buck the present chairman stated that all CPO shareholders had a "fair chance" to vote on whether they wished to sell their shares or not. The club gave NO further information to supporters why this was suddenly so important to them. The club stated that owing to Financial Fair Play regulations being introduced shortly, the club had to be able to compete against other top European sides in the future, citing that the small capacity at Stamford Bridge as disadvantaging us in comparison to other leading clubs.

It was also stated by Bruce Buck that ALL possible avenues had been explored by the club, in the possibility of expanding Stamford Bridge. This was later found to be untrue when questioned openly in front of 700 people in October 2011 during the CPO voting. He conceded that Chelsea Football Club HAD NOT submitted any plans whatsoever in the previous 10 years in regards to the expansion of the ground. Hammersmith & Fulham Council have since confirmed this.

Suspicion by the majority of CPO shareholders was compounded, when it was suggested at the meeting, that £250k worth of shares had been purchased by Bruce Buck and Roman Abramovich`s associates purely to corrupt the vote. Buck refused to comment, but the National press confirmed all the names and exposed the underhand tactics that the club had adopted in their pursuit to seize all the shares from CPO shareholders.

Richard King the CPO chairman immediately resigned, as it was obvious that he had not been working in the interests of CPO, which was set up to be totally independent of the club. Steve Frankham replaced him, but once again his actions so far have not been in the interests of the CPO shareholders and he continually refuses to `ring fence` the £250k illegally purchased shares, as they continue to affect all voting patterns, which is unfair on all original CPO shareholders.

The present valuation of the combined land at Stamford Bridge is £900m. If developed by the club, the return could be as high as £1.6b. If the club were to relocate, this would cost approximately £500m if a site were to be found, which would create a massive financial return of £1.1b. Some CPO shareholders cite this as the possible motive. We must state that we have an open mind on this, but the clubs next move, will prove where the truth lies.      

 

We are at a critical time in the future of our club, most fans want Stamford Bridge redeveloped if possible, if and when it is proved NOT to be possible, then everyone will accept that a move is inevitable. But to where? No available sites big enough within a 3 mile radius of Stamford Bridge exist. Unless the club are looking even further afield. We as fans demand answers from our club, the fans are the only constant, the present owner and board are only passing through. Questions need to be answered:

A: Why were £250k of shares purchased by the clubs associates to corrupt the vote of CPO shares in October 2011?

B :Why are the £250k of shares illegally purchased still included in any future voting?

C: Why have fans been told that Stamford Bridge can not be redeveloped, when the local council say that it is possible and why do the club refuse to meet with the council to confirm if redevelopment is possible or not?

D: CFC recently announced the 5th biggest financial turnover in World football. Next year TV income will increase by 70% reducing yet further the significance of stadium income, so why do the club still feel that it is imperative to move from Stamford Bridge?

E: Battersea and Earls Court are now not viable sites for relocation, so do the club now feel that even further away from the present site is now acceptable?

F: If the existing combined site at Stamford Bridge is estimated to be worth £900m, why has the pitch and club's name only been valued at £20k?

This is an outline view of where we are at the present time. All Chelsea fans and CPO shareholders understand, that the club need to be able to compete in the future, without relying on Roman Abramovich`s money. No one wishes to hold the club back, but we as fans have then right to know, what the true motives are.