Former Chelsea and Leeds owner Ken Bates dies at 94
Why it matters: Bates bought Chelsea for £1 in 1982, helped keep Stamford Bridge in club hands and later sold to Roman Abramovich.
Ken Bates, the former owner and chairman of Chelsea and later principal owner of Leeds United, has died at 94. Bates became one of English soccer's most divisive and influential club executives after buying Chelsea for £1 in 1982, when the club was struggling financially and facing decline. During more than two decades in charge, he oversaw Chelsea's revival, stadium redevelopment and trophy wins before selling the club to Roman Abramovich in 2003. He later took control at Leeds in 2005 and remained there until 2013. Bates also served on the Football Association executive committee and played a prominent role in plans to rebuild Wembley Stadium.