Ken Bates, former Chelsea chairman, has died peacefully in Monaco at the age of 94. Chelsea Football Club announced his passing on Saturday, recognizing him as a pivotal figure in their history. Bates famously acquired Chelsea for 拢1 in 1982 when the club faced significant debt and was in England's Second Division. During his two-decade tenure at Stamford Bridge, he guided Chelsea back to the top flight and established a foundation for their future success. In 2003, Bates sold Chelsea to Russian billionaire Roman Abramovich for 拢140 million, a transaction that led to an era of unprecedented achievements for the club. After leaving Chelsea, Bates became the principal owner of Leeds United in 2005, overseeing its operations for seven years before the club was sold to GFH Capital in 2012.
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This summary was AI-generated from a story originally published by Punch Nigeria.