Ken Bates, the one-time custodian of Chelsea and Leeds United, has passed away at age 94.
Chelsea confirmed the news on Saturday, sharing that he “died peacefully in Monaco this morning, with his wife and family by his side.”
Bates acquired Chelsea for a mere £1 in 1982 while the side languished in the former Second Division, absorbing debts of £1.5m, and immediately began reshaping its destiny.
He ultimately transferred ownership of the outfit to Roman Abramovich in a £140m transaction in 2003, when they were back competing in the country’s premier league.
The West London side were saddled with significant liabilities when Bates divested his stake. He continued in the chairman’s role before relinquishing the position in 2004.
Chelsea issued a communiqué, stating: “It is with profound sorrow that we relay the passing of Ken Bates, the former proprietor and chairman of Chelsea Football Club.
“The club extends its deepest sympathies to Ken’s wife Suzannah, his wider family, and his many friends.
“Ken’s resolve to battle for Chelsea through turbulent periods and drive the squad toward silverware will forever be remembered.”
A succession of managers took the reins under Bates, including John Neal, John Hollins, Bobby Campbell, Ian Porterfield and David Webb, before he brought in Glenn Hoddle, Ruud Gullit, Gianluca Vialli and Claudio Ranieri.
It was Gullit’s tenure that saw Chelsea break a 26-year drought for major honors, securing the FA Cup in 1997.
Further details ahead.
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