rschief03
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Bates desperate to save Chelsea from bankruptcy - 2007/02/10 13:24
Chelsea chairman Ken Bates has offered neighbours Fulham a solution to their search for a ground - tenancy at Stamford Bridge.
Bates proposed the groundshare as part of a deal which would have seen Fulham counterpart Mohamed Al Fayed buy into Chelsea Village plc.
The pair, who are good friends, discussed the 9.9% purchase - the highest proportion Premier League rules will allow - and permanent share of Stamford Bridge a fortnight ago at lunch at Harrods, in the presence of a lawyer.
The proposed ?15million scheme would have included Fulham taking out a 25-year lease to play at Chelsea`s home, where they would have their own changing area, boardroom and commercial facilities.
In return Fulham would pay Chelsea 5% of their turnover minus sponsorship income.
Under the plan the two clubs would have sought to persuade the local authority to cancel a legal agreement which currently prohibits Chelsea groundsharing at Stamford Bridge.
Talks got as far as Chelsea`s lawyers writing to Al Fayed setting out the terms of an agreement for approval. But Al Fayed was surprised by the speed of the move by Bates and insisted any interest Fulham might have would only amount to a short-term groundshare.
A Fulham spokesman told the Evening Standard: "The chairman wrote to Bates declining the offer.
"Fayed and Bates are good friends and lunch together frequently. When Ken came to see the chairman at Harrods last month he floated the idea of a partial buy-in to Chelsea Village.
"Fayed saw the conversation as a speculative exchange of ideas and was surprised to receive a formal proposal from the Chelsea lawyer the following day. He is publicly committed to redeveloping Craven Cottage or at least building a modern stadium somewhere in the borough of Hammersmith and Fulham."
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