The Chelsea Pitch Owners dilemma.
Here are the stadium capacities of The Premier League League's "Big Six":
Manchester United: 74,879
Tottenham Hotspur Football Club: 62,062
Arsenal F.C: 60,704
Manchester City Football Club: 55,017
Liverpool Football Club: 54,074
Chelsea Football Club: 40,853
š± Assuming a sold-out crowd in every match, Chelsea Football Club would have:
- 250,000 fewer spectators per season than Liverpool Football Club
- 646,000 fewer than Manchester United.
Todd Boehly, Behdad Eghbali, JosƩ E. Feliciano, and the new owners want a bigger, modern stadium.
ā But there is a problem.
Chelsea Football Club does not own its stadium.
Stamford Bridge belongs to Chelsea Pitch Owners PLC
ā What is Chelsea Pitch Owners PLC
It's a nonprofit organization created in 1997 to purchase:
- the Stamford Bridge freehold
- the turnstiles
- the pitch
- the Chelsea Football Club name
ā The numbers
CPO purchased the freehold for Ā£10.2m with a loan backed by the Club.
In return, CPO provided Chelsea Football Club with a 199-year lease at a massively discounted rent.
Any changes to the leasehold agreement must be approved by 75% of CPO shareholders.
No individual is permitted to own more than 100 shares.
Former Chelsea FC captain John Terry is the current President of the CPO.
ā History
Chelsea suffered serious financial troubles during the 1970s and 1980s.
The financial crisis culminated in the sale of the club's freehold to property developers Marler Estates (and later to Cabra Estates).
The move almost saw Chelsea Football Club lose the stadium.
ā The market crash that saved Chelsea and Stamford Bridge
The future of the stadium was only secured in 1992 when the property developers were bankrupted by a market crash.
The crisis allowed the then-chairman Ken Bates to regain control of the stadium.
ā The risk of losing Business Opportunities
While the CPO guarantees continuity and security, it can be an obstacle to the current state of football.
Today, the stadium should be one of the central weapons of the club's economic and sporting strategy.
The best scenario would be to reach a compromise between Chelsea Owners and the Chelsea Pitch Owners.
It's ok to maintain the security that the CPO guarantees but not when it makes the club financially weaker than the other The Premier League clubs.
šØ A question for YOU:
And you, fans, and sports managers, would you sacrifice business opportunities for the safety of your club?
Or do you consider the development and management of an ultra-modern stadium crucial for the financial sustainability of the club and to offer fans the best possible entertainment?
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