London, Oct.28 (ANI): Chelsea FC hase lost a vote to buy back their own stadium from a group owned by their fans.
According to the BBC, only 61.5 percent of shareholders in Chelsea Pitch Owners (CPO) voted in favour of selling the freehold for the club's Stamford Bridge stadium back to the club.
Approval of 75 percent of the shareholders was needed to pass the proposal.
The CPO acquired freehold rights to the stadium in 1997 to protect Stamford Bridge from developers should the club run into financial difficulties.helsea had wanted to buy the stadium in order to facilitate a possible move to a new stadium and redevelopment of the site.
However, many fans opposed the move from the club's current location where it has been based for more than a century.
"Chelsea FC is naturally disappointed with the result. While we will remain as ambitious as ever, this decision could slow down our progress," the club said in a statement.
The club maintains no decision has been made on a move, even if the club does buy the stadium. (ANI)
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