Mohamed Al-Fayed, owner of Harrods, has pulled out of a plan to become a backer of Chelsea Football Club. But McCarthy Corporation, the leisure-to-telecom combine, is still interested in acquiring a stake in Chelsea Village, the club’s parent company.
The benefit for any investor is to secure first call on developmentopportunities at Stamford Bridge. Possibilities include leisure facilities,restaurants and flats.
Chelsea chairman Ken Bates is courting big-hitters to underwrite a£30m rights issue to develop the west London ground.
- The Sunday Times Business 17/11/96 page 2
