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.
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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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.
"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 don’t like it." P Kenyon.
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.
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"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 don’t like it." P Kenyon.
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.
"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 don’t like it." P Kenyon.