Former Chelsea owner and chairman Ken Bates dies aged 94

RIP: Ken Bates has died at the age of 94 (Gareth Copley/PA)

Former Chelsea owner and chairman Ken Bates has died at the age of 94, the club have announced.

Bates memorably bought Chelsea for a single pound in 1982 and became the third-longest-serving chairman in the club’s history, holding the position for 22 years.

He took the Blues towards the higher end of the Premier League before selling the club to Roman Abramovich in 2003 and then taking over at Leeds in 2005, where he also served as chairman.

Chelsea said Bates died peacefully on Saturday morning surrounded by his wife and family in Monaco.

Chelsea’s statement read: “It is with great sadness that we share the news of the loss of Ken Bates, former owner and chairman of Chelsea Football Club.

“The club sends our heartfelt condolences to Ken’s wife Suzannah, the rest of his family and his friends.

“Ken’s determination to fight for Chelsea when times were tough, and drive the team on to winning trophies will never be forgotten.” When Bates took over he immediately saved Chelsea’s future, taking on around £2million worth of debt, and managed to keep Chelsea in the old Division Two before going on to turn the club’s fortunes around.

While Bates was in charge, Chelsea were promoted into the top flight before going on to win the FA Cup twice – ending a 26-year wait for major silverware in the process in 1997.

They also won the UEFA Cup Winners’ Cup, League Cup, UEFA Super Cup, Community Shield and the Full Members’ Cup, a competition he jointly founded, twice.

When Bates eventually left Chelsea, he took a 50 per cent stake at Leeds and remained there for seven years before selling the club in 2012.