Former Chelsea chairman Ken Bates has died at 94.
The London-born businessman bought the West London outfit for a single pound in 1982, and went on to act as owner and chairman until 2003.
Former Chelsea chairman Ken Bates has died at 94 Credit: Times Newspapers Ltd
Bates helped turn the club around and turn them into an English football powerhouse Credit: PA:Press Association
The Blues were struggling in the Football League Second Division at the time of his purchase.
The team were not just facing difficulties on the pitch, but also faced the prospect of financial ruin, allowing Bates to take over the club for £1.
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But his subsequent efforts to modernise the team and their facilities paved the way for their success – both under his stewardship and after he had departed.
The Blues released a heartfelt statement that read: “It is with great sadness that we share the news of the loss of Ken Bates, former owner and chairman of Chelsea Football Club.
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“The club sends our heartfelt condolences to Ken’s wife Suzannah, the rest of his family and his friends.
“Ken’s determination to fight for Chelsea when times were tough, and drive the team on to winning trophies will never be forgotten.”
Bates
One Chelsea fan wrote in response to the news: “OH NO! I loved Ken. He had a good innings. A lovely man. Rest in peace.”
Another added: “RIP Ken Bates a Chelsea legend who saved the club from going out of business.”
Bates is beloved by Chelsea fans for his work saving the club from financial ruin Credit: Times Newspapers Ltd
Bates (right) also had stakes in several other British clubs during his career Credit: PA:Press Association
He left on the back of seven straight top-six finishes, cementing Chelsea as one of the nation’s top teams.
He sold the club to Roman Abramovich for a fee of £140million in 2003, before pursuing other projects in the sport.
He returned to the world of club football in 2005, when he took over at Leeds United by buying a 50 per cent stake in the iconic club.
But his tenure in Yorkshire was not quite as transformative as his spell with Chelsea.
The club would fall into administration in 2007, with Bates selling the club to a new body of which he was one of three directors, while remaining chairman.
He left the club in 2012 in a deal that saw private equity group GFH Capital buy out the entire club for a £52million fee.
Bates was also involved in the early stages of the creation of the New Wembley stadium, being appointed chair of Wembley National Stadium Ltd in 1997, before resigning four years later.
He also had interests in Oldham, Wigan and Scottish club Partick Thistle during his career as an executive.
He lived in Monaco in his later years, only travelling back to the UK for short periods.
Bates sold the club to Roman Abramovich in 2003, setting them up for continued success in the noughties Credit: AP:Associated Press
Bates was also the chairman of Leeds from 2005-2012 Credit: Reuters
