Former Chelsea and Leeds owner Ken Bates dies at 94
Why it matters: Bates bought Chelsea for £1 in 1982 and sold it to Roman Abramovich for £140 million in 2003 after reshaping the club.
Ken Bates, the former owner and chairman of Chelsea and later owner of Leeds United, has died at 94. Chelsea said Bates died peacefully in Monaco with his wife and family.
Bates was one of the most influential and divisive figures in modern English football. He bought Chelsea for £1 in 1982 when the club was in financial trouble and spent more than two decades rebuilding it. During his tenure, Chelsea returned to the top flight and won the FA Cup twice, the League Cup, the Cup Winners' Cup and the UEFA Super Cup before he sold the club to Roman Abramovich for £140 million in 2003.
He later became principal owner of Leeds in 2005 and left in 2013.