CPO chairman Richard King stands down
Friday 28 October 2011
Chelsea Pitch Owners chairman Richard King confirmed his resignation from the board today, 24 hours after Roman Abramovich's bid to purchase the Stamford Bridge freehold ended in failure.
King concluded yesterday's stormy extraordinary general meeting of CPO, during which Abramovich's proposal was defeated, by announcing he would make a statement about his future today.
That was widely interpreted as a hint he planned to stand down, which he did this afternoon after eight years as chairman of the company set up by the club in the 1990s to prevent them being made homeless by property developers.
King said in a statement on Chelsea's official website, www.chelseafc.com: "After eight years, I have decided to step down as chairman and from the board of directors of Chelsea Pitch Owners plc and its subsidiaries.
"My decision was made some time ago but I felt obliged to remain in office until the process that led to yesterday's general meeting of the company was concluded.
"During that process, I worked closely with the legal advisers to the company to ensure that it was conducted in a proper manner and I believe that aim was achieved.
"I wish CPO every success in continuing to play a positive role in the future of Chelsea Football Club."
Latest in Sport
Manchester United's best XI of the season so far: No place for Angel Di Maria or Juan Mata
Which player sells the most shirts in the Premier League?
WrestleMania 31 results: Seth Rollins stuns WWE as he cashes in Money in the Bank contract to claim title from Brock Lesnar
Italy vs England preview: Roy Hodgson to experiment with Phil Jones in midfield while Harry Kane joins Theo Walcott in attack
WrestleMania 31: The Undertaker begins a new streak after tombstoning Bray Wyatt
- 1 Replica Back to the Future Hoverboard released
- 2 Katie Hopkins attacked me on Twitter — so I reported her to the police for inciting racial hatred
- 3 Brixton squat flats now costing up to £3k per month show how out of control rent is in London
- 4 Gamers confess the worst things they've done in The Sims
Ukip supporters are 55 or older, white and socially conservative, finds British Social Attitudes Report
Street preacher quoting from the Bible fined for calling homosexuality an 'abomination'
Jeremy Clarkson sacked live: Alan Yentob 'wouldn't rule out' ex Top Gear host's BBC return
Woman filmed launching racist tirade against men on the Tube for speaking in 'own lingo'
The West has it totally wrong on Lee Kuan Yew
David Cameron calls Labour 'hopeless, sneering socialists' while announcing 7-day NHS plans