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Say No CPO: Abramovich Defeated


COME ON CHELSEA

By Since66
October 27 2011

Abramovich defeated are two words you don't normally read about Mr A or associate with Mr A, but today Mr A, Bruce Buck, Gourlay and the rest of the Chelsea suits on the Board of Directors were defeated in their proposals to buy back the 1000s of shares owned by the Chelsea Pitch Owners.

Chelsea Football Club needed 75% of the votes cast - they got 61.6% of the share - meaning the proposal cannot pass.

It is a stunning victory for a band of 15,000 to 17,000 supporters who have held their share certificates since the CPO was born back in the 90s.

It is reported that 2,000 more shares were sold in the three week period leading up to today's vote.

STAMFORD CURRENT

Chairman Bruce Buck said, "Obviously we are disappointed but we recognise and we respect totally that the shareholders of Chelsea Pitch Owners have spoken.

"We will meet with Mr Abramovich and the rest of the board and we will decide what action, if any, we will take going forward.

"I don't view this as an us and against you, we against they situation. We are all Chelsea fans and I can only hope that on Saturday we can get together and support this club and beat Arsenal."

I, and the majority of Chelsea fans have no problems with Chelsea Football Club moving to a bigger stadium. A stadium that the club needs to compete financially with the richest clubs in Europe and the World.

The major problem with Chelsea Football Club is that they thought they could bulldoze and ride rough over the CPO and targetting the CPO as easy meat.

Now that the CPO has spoken and proved they are not easy meat, perhaps Chelsea Football Club will come back to the CPO and treat the shareholders with dignity, respect and intergrity, because if it wasn't for the CPO, Stamford Bridge would have become a developed property site years ago.

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Say No CPO: Abramovich Defeated
Discussion started by 50 Years Over 100 Years , 27/10/2011 20:51
50 Years Over 100 Years
27/10/2011 20:51
What do you think? You can have your say by posting below.
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KenCPofL
27/10/2011 22:51
The MAJORITY of fans voted for RA so now it is the minority holding out against the wishes of most Chelsea fans.They should be ashamed doing that.

dixon9
28/10/2011 06:42
Absolutely the right result.

There has been a definite lack of respect in terms of the way they have tried to push this through.

It has to be said though, that it wasn't a "NO" to a move from Stamford Bridge but a "NO" to being pushed around.

Unfortunately, from the emotional point of view, it does look as we will end up moving.



http://i44.tinypic.com/11r9ijr.jpg

"It is born out of hypocrisy and fundamental insecurity. There have been two kids on the block for the past 12 years. Suddenly, there is a third and that one is threatening to be more successful than the others and they donít like it." P Kenyon.

Since 66
28/10/2011 16:44
The NO vote was fought for the fact the Chelsea 'out of the blue' called an EGM to buy back the CPO shares without consultation with the CPO to suggest this an idea.

Chelsea should have called a meeting to speak to all the CPO's outlining their plans before the meeting for the vote was arranged.

It was all about principle and democracy that the CPO built their SAY NO CPO campaign on.

If the Chelsea board had arranged matters correctly and accordingly, the board may have got their wish, instead of eggs over their faces.

(Sm3)



Don't Gamble, Bet Risk Free

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http://i40.tinypic.com/wul0s4.jpg

dixon9
28/10/2011 23:17
Spot on.

(Sm128)



http://i44.tinypic.com/11r9ijr.jpg

"It is born out of hypocrisy and fundamental insecurity. There have been two kids on the block for the past 12 years. Suddenly, there is a third and that one is threatening to be more successful than the others and they donít like it." P Kenyon.

Paul Todd
30/10/2011 05:02
Over £ 200,000 was spent buying bulk blocks of 100 shares (the maximum that could vote) in the ten days prior to the vote. Mr Buck suggests that people rang him and asked how they could help and he told them 'buy shares' but he knows not who bought those shares - more shares than sold in the previous seven years for an organisation that Resigned Richard King said had served its purposes. What about the 4000 shareholders whose addresses CPO did not bother to record or track down and who knew nothing of the meeting? Chelsea in reality has about 25 per cent of the honest votes. The Electoral Reform group disallowed and mislaid votes - a friend whose proxy was signed by him and his son because he is ill was denied a vote.

The shoddy was Chelsea PR behaved and tried to rush this through in 23 days is the reason they lost. Roman's decision to lend the club money so he could pay Pina commission and we would owe money for buying Veron, Schevcenko, and alienating Mourinho (then paying him and countless others off) to show that 'he could' is in part responsible for his loans to a club he bought for £ 20 million and the debts in the knowledge of CPO is not a good reason to want to obtain a £ 750 million asset for £ 20,000 and the ability to make such quality decisions over fans.

dixon9
30/10/2011 18:28
Buck values the land etc at 250m.....I heard around 750m would be about right...and we would need 550/650m for a new stadium....



http://i44.tinypic.com/11r9ijr.jpg

"It is born out of hypocrisy and fundamental insecurity. There have been two kids on the block for the past 12 years. Suddenly, there is a third and that one is threatening to be more successful than the others and they donít like it." P Kenyon.

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