Stamford Bridge club want to buy back ground from fans.
Chelsea supporters are deciding whether to accept an offer from the club that could ultimately see them build a new 60,000-seat stadium.
The Blues hierarchy want to buy back parts of Stamford Bridge they sold to fans in the 1990s so they can make a profit from the land if the sell the famous ground.
The Stamford Bridge pitch and stands belong to a company called Chelsea Pitch Owners (CPO), formed in 1993, to prevent the stadium falling into the hands of property developers.
Chelsea chairman Bruce Buck and chief executive Ron Gourlay appealed to the 12,000 CPO shareholders to sell their 15,000 shares.
The fans were offered the price they paid for them – £100 – in return for various incentives at any new stadium.
Buck was hopeful the supporters would not try to hold the club to ransom, insisting there was no room for negotiation anyway.
“Bear in mind that no-one bought these shares as a financial investment,” he said.
“Everyone bought these shares as a way of helping the club and they also bought them as mementos and souvenirs.
“We haven’t considered making them a big offer because we believe they are fans of Chelsea FC and want to do what’s best for the club.”
The incentives for selling up include a guarantee that Chelsea would only relocate within a three-mile radius of Stamford Bridge if they moved before 2020.
Buck and Gourlay could not make any promises beyond that year because the sites under consideration are likely to become unavailable during the next eight years.
The proposed sites are: Earls Court, Battersea Nine Elms and possibly White City.
Fans were also promised their names would appear on a roll of honour at any new stadium, and would be given priority in selecting a season ticket.
The vote will take place on October 27, and Chelsea need at least 50% of shareholders who turn up at the EGM to agree to sell.
With only around 60 or 70 people attending CPO’s annual general meetings, a small turnout is expected, with the club understood to be planning to book a room that holds up to 400 people.
The problem for Chelsea is the EGM is attended by those who would veto the proposal, arguing that billionaire owner Roman Abramovich could afford to pay a premium on the shares.
Buck insists the club had explored the possibility of redeveloping Stamford Bridge but that every idea put forward had proven impractical or too expensive.