A BID by Chelsea Football Club to buy back the freehold of Stamford Bridge from Chelsea Pitch Owners (CPO) has been defeated at a shareholders vote.

The result of the vote came short of the 75% majority required by the company particulars to carry the resolution.

While 61.8% voted in favour of the club's resolution, this was stuck out by the 38.4% who voted against.

Chelsea had wanted to buy the freehold in order to advance plans to move away from Stamford Bridge.

The campaign for a 'no' vote countered that they did not necessarily disagree with the need to move away from the ground, but wanted to see the club flesh-out its proposals put forward by owner Roman Abramovich (pictured).

An occasionally-heated meeting at Stamford Bridge, attended by 700 CPO shareholders, saw Chelsea chairman Bruce Buck and chief executive Ron Gourlay questioned by fans.

There was clear disquiet at the news that 20 maximum voting blocks of 100 shares had been sold by CPO in the last seven days – more than in the previous seven years combined.

A statement issued by the Say No CPO campaign said: "We are pleased with the outcome of today's meeting. We hope this is a prelude to a process of negotiation between the club and shareholders to reach a naturally acceptable outcome."

Tim Rolls, of the Say No CPO campaign, said: "This is a vindication of the work put in by a large number of people, and demonstrates the strength of feeling among true Chelsea supporters regarding the future of the club.

"Going forward there will clearly need to be a dialogue with the club, and we hope this can be conducted in a constructive manner."

Mr Buck said: "Obviously we're disappointed but we recognise and respect that she shareholders of CPO have spoken. We will met with Mr A and will decide what action we take going forward."

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