Chelsea Pitch Owners reject club bid to buy Stamford Bridge land

Shareholders in the Chelsea Pitch Owners (CPO) company have rejected a bid from club owner Roman Abramovich to buy back the land upon which Stamford Bridge is built, The Guardian reports.

Abramovich was hopeful of purchasing the land from the CPO in order to build a new 60,000 seater stadium, but has seen his efforts knocked back.

Chelsea required 75% of shares to force through proposals to secure the pitch but in the end only managed to acquire 61.6%.

“Roman’s disappointed, but he respects that Chelsea Pitch Owners have spoken,” said Chelsea chairman Bruce Buck.

“We’re disappointed and we have to accept that it’s a setback, but we always knew that getting 75% of the vote was going to be very difficult. That’s just the nature of the vote.”

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