Ken Bates, the man who saved Chelsea for £1, dies aged 94

Former Chelsea and Leeds United owner and chairman Ken Bates has died at the age of 94. The London club confirmed in an official statement that the veteran football administrator passed away peacefully on Saturday morning in Monaco, surrounded by his wife Susannah and his family. Chelsea and the Chelsea Foundation expressed their deepest condolences, emphasizing that Bates' determination to fight for the club during difficult times will never be forgotten. The club called him one of the most significant figures in its modern history, the man who laid the foundations for future success. Born in west London, Bates had previously chaired Oldham and co-owned Wigan Athletic, but his indelible mark on English football came at Stamford Bridge. In 1982, with Chelsea languishing in the Second Division and drowning in debt, he bought the club for a nominal £1. His efforts saved the team from bankruptcy, secured the historic stadium and oversaw its complete redevelopment. Under his stewardship, with managers including Glenn Hoddle, Ruud Gullit, Gianluca Vialli and Claudio Ranieri, Chelsea returned to the top flight. It was during Bates' tenure that the club ended a 26-year trophy drought, winning the FA Cup in 1997. In total, the trophy cabinet grew to include two FA Cups, the League Cup, the European Cup Winners' Cup, the UEFA Super Cup and the FA Community Shield. In 2003, Bates sold Chelsea to Roman Abramovich for £140 million, remaining as chairman until his final departure in 2004. He also served on the Football League board and, in 1997, headed the redevelopment project for the national stadium at Wembley. In January 2005, Bates embarked on a new chapter as owner of Leeds United. His time in Yorkshire was turbulent: the club lost the 2006 Championship playoff final and, a year later, financial troubles and administration led to a first-ever relegation to the third tier. However, Bates joined the consortium that bought the club and helped Leeds return to the Championship in 2010. He sold his shares at the end of 2012 and finally stepped down as honorary president in July 2013.