Ken Bates, a prominent figure in English football who owned both Chelsea and Leeds United, has died at the age of 94, Chelsea announced on Saturday.
Bates passed away peacefully in Monaco on Saturday morning, surrounded by his wife and family, according to the club's announcement. Chelsea officials expressed their condolences to Bates' wife, Suzannah, his family, and friends, noting his determination and drive to bring trophies to the club.
Bates acquired Chelsea in 1982 for a nominal sum of £1 when the club was in the second division and burdened by significant debt. Over his tenure, he is credited with overseeing a turnaround in the club's fortunes. He eventually sold his shares in Chelsea to Roman Abramovich in 2003 for £140 million, by which time the club had returned to the top flight of English football. Bates remained as chairman for a period after the sale, stepping down in 2004.