Former Chelsea chairman Ken Bates has died at the age of 94, the Premier League club have announced.
The Blues said in a statement that Bates had "passed away peacefully in Monaco this morning surrounded by his wife and family".
Bates famously bought Chelsea for just £1 in 1982 and oversaw the rise again of the Second Division after inheriting debts of £1.5m.
He would eventually sell the club to Roman Abramovich in 2003 for £140m, with the club back in the top flight in a move that would send the club towards an unprecedented period of success under the Russian billionaire. Bates remained as chairman for a spell, but soon stepped down in 2024.
Bates became the principal owner of Leeds United in 2005 after a deal to acquire 50 percent of the club and ran the club for seven years before its sale to GFH Capital in 2012.
A Chelsea 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."
