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Chelsea Pitch Owners
*** Shopping-Tip: Chelsea Pitch Owners
'''Chelsea Pitch Owners''' is an organisation associated with
Chelsea Football Club of
England. It owns both the
freehold of the
Stamford Bridge (stadium) Stamford Bridge stadium and the
naming rights of the club.
History
Chelsea suffered serious
finance financial troubles during the
1970s and
1980s following a large-scale attempt to renovate Stamford Bridge, and were forced to sell the freehold of their stadium to
Real estate developer property developers in order to pay off
debts. The move almost saw the Chelsea lose the stadium. The future of the stadium (and hence the club) was only secured in
1992, when the property developers were forced into
bankruptcy, allowing the
chairman Ken Bates to do a deal with their bankers and to regain control of the stadium for the football club. Following this, ''Chelsea Pitch Owners'' was created, and in
1997 it purchased the Stamford Bridge freehold, the
turnstiles, the
pitch and the Chelsea FC name with the aid of a
loan from ''Chelsea Village plc''.
Organisation
In
purchase purchasing the freehold and the naming rights, the intention was to ensure that Stamford Bridge could never again be sold to property developers and that the Chelsea FC name could not be traded on outside of the stadium. The company is a
non-profit organisation and is not listed on the
London Stock Exchange Stock Exchange. Its purpose is to raise the
GBP £9.2million needed to pay off the loan and then lease the freehold back to the club, on the strictly-defined proviso that the ground may only be used for
Football (soccer) football purposes. Irrespective of how many shares are owned by an individual,
voting rights are limited to 100 per
shareholder to prevent any one person or organisation gaining control.
Fans are encouraged to purchase
shares in order to secure the club's future.
Address
471 Fulham Road
London
England
See also
-
Official website
*
Stamford Bridge (stadium) Stamford Bridge
Category:Chelsea F.C.
