On 3 October 2011, Chelsea Football Club made a proposal to buy back the freehold land (owned by CPO) on which the football stadium at Stamford Bridge sits, which would pave the way for a move to a new ground. Chelsea Chairman Bruce Buck, said: "Chelsea should always be grateful to those who invested in CPO. We know only too well how close the club came to losing our home prior to the formation of CPO, but that threat has now gone under Mr Abramovich's ownership and with the CPO structure in place we cannot plan with certainty for the future. I hope all shareholders vote in favour of the proposal."