"Accounts
Extreme concern was expressed by all at the legal costs incurred by the recent responses to the S793 letters and follow up responses and queries. The bills will be reviewed and discussed with Stephenson Harwood0(SH) by GS. Of the bills incurred 60% were in relation to queries and matters raised by a single shareholder"
It seems that the board is often beset by a very few individuals who, with conspiracy and malice a forethought, insist on pursuing blind alleys and fruitless diversions. As if the shenanigans of the recent letters (acquiesced to by the board despite their advice that it would be pointless) is made all the more perverse when follow up questions have resulted in even greater costs. It seems wholly inappropriate that a single shareholder should be so able to threaten the precarious financial situation of the company with picturesque showboating and embroidered bar room legal pursuit. We would suggest the board do whatever they can to prevent this happening again and to put the brakes on this person.
Shareholders need to realise that the company is in serious danger. If a minority of shareholders continue to chuck mud and insist that CPO carries the cost, there will be NO CPO in very short order. Quite a few people are beginning to see that as something of a positive outcome and that has to be the height of irony.
I really really hope that all this nonsense of some paranoid SAYNOCPO will stop after this. Also i want our ground situation sorted one way or other. Even if it means completely abolishing CPO. CPO should act in the best interest of CFC. But the evidence in the past 3 years seriously suggest's that they are after personal glory(more money for shares,control in the new ground) rather than the well being of CFC. 99% of our season ticket holders whether they are CPO holders or not know and accepts it that extending SB is more than impossible. Yet these paranoids are winding up other good minded fans each time the club tries to do something worth regarding the ground. Like i said lot of fans like me(ST holder and CPO holder) even want the club to go for the extreme ie, ABOLISH the CPO to decide this matter one way or other. H&F council sees CPO as a safeguard for their vested interests in Earls courts and other viable land's in london. Anyway is there any good news regarding the ground mate. With spuds and west spam moving its awful to contemplate that CFC is 4th biggest club in LONDON. SCARY THOUGHT.
ReplyDeleteWhat options are the club currently pursuing regarding a new stadium.
ReplyDeleteWhy you are not publishing comments in the forum mate. I made a comment about the madness surrounding CPO 4 days before. Its not yet anywhere in comments
ReplyDeleteApologies for the delay in publishing.
ReplyDeleteIt's a catch-22 situation.
ReplyDeleteTo have a shot at securing an adequate local stadium, Earls Court or otherwise, LBHF council would have to feel that the threat of Chelsea moving out of the area, and losing the income to the area that Chelsea's presence generates, was significant enough for them to want to help us.
To be able to move out of the area, the club would have to buy back the ground from CPO under the terms that they could. CPO would never agree that the club could move out of the area (or far enough where there are still sites available). Therefore LBHF can never feel threatened that Chelsea could move out of the area, therefore they will never help us.