Ken Bates, the former owner and chairman of Chelsea and Leeds United, has died at the age of 94. Chelsea announced the news in a statement on Saturday.
Bates passed away peacefully in Monaco, surrounded by his wife Suzannah and family members. Chelsea expressed sadness over the loss and highlighted his role in securing the club's future during difficult times.
He bought Chelsea for £1 in 1982 while assuming £1.5 million in debts. Under his leadership, the club achieved promotion to the top flight, won the FA Cup in 1997 and 2000, and secured other trophies including the League Cup and UEFA Cup Winners' Cup.
Bates sold his shares to Roman Abramovich in 2003 for £140 million. He later became owner of Leeds United in 2005 and remained involved until 2013.
The Chelsea Supporters Trust described Bates as one of the most significant figures in the club's modern history, noting his role in laying foundations for future success.