As the Board of Chelsea Pitch Owners declare 'no foul' over the attempts of Abramovich, Buck and their cronies to secure the freehold to Stamford Bridge through concert party votes, Stamford Bridge: The Truth has discovered damning evidence that a concert party was in play with the full knowledge of at least one member of Chelsea Football Club's Board and of the Board of the CPO.The purchase of several thousand Chelsea Pitch Owners shares between 6th and 20th October 2011 has remained a very sore point among many genuine shareholders who repeatedly demanded that the Board of CPO investigate. Despite promises, the investigation did not happen leading to questions about the CPO Board's own involvement in the matter. Eventually at the last AGM (30th January 2013) under increasing pressure from shareholders the CPO Board finally undertook to investigate properly and thoroughly.
It would appear that what has followed is little more than a whitewash.
The minutes of the CPO board meeting of 2nd May 2013 refer to the investigation (S793 letters to the owners of shares suspected of being part of the concert party) thus:
4 S793 Letters
The responses to the letters sent were discussed. It was noted that we had responses from all but 3 people. CR and RG had each researched these 3 and believe that only one shareholder remains a mystery. CR undertook to contact the other 2 by letter or telephone if possible. It was also noted that the addresses on the register were by and large accurate. The contents of the letters was also as predicted. In the absence of any further information, the Board unanimously agreed that this matter was felt to be concluded and a statement will be drafted to this effect by SJ, which will close the matter.
ACTION
CR to chase remaining shareholders
SJ to draft a short statement
However, a document has been forwarded to Stamford Bridge: The Truth which contradicts the whitewash and which suggests that a concert party was in play, that Chelsea FC Chairman Bruce Buck had knowledge and that the CPO Board turned a blind eye when accepting the concert party votes.
The document also names alleged members of the concert party including a group who between them purchased 1482 shares in the two week window in question and who all have direct or close links to either Roman Abramovich or Bruce Buck.
The document begs the question; "If the shares were bought by shareholders in October 2011 at £100 per share and the offer price from the club was £100 per share, then what was the incentive for employees of Millhouse Capital (one of Abramovich's companies) or other connected persons to risk their capital and associated costs, if, as was clearly stated by the Club in its Share Offer, there was no profit to be made from the purchase and sale of the shares?"
A very good question. One the Board of CPO appear uninterested in either asking or in finding an answer to.
The document is available for all interested parties to read online here and includes links to articles by respected journalists and to recordings of Bruce Buck trying to exert pressure on one CPO shareholder who dared question what was being allowed to take place.
Was a concert party in play? Did the then Board of the CPO know? Have the current CPO Board investigated properly and thoroughly? Who at Chelsea Football Club was involved?
There are many unanswered questions to which we leave you to draw your own conclusions.
