Former Chelsea and Leeds owner Bates dies aged 94

Former Chelsea and Leeds United owner Ken Bates has died at the age of 94. Chelsea announced his death on Saturday, stating that he "passed away peacefully in Monaco this morning surrounded by his wife and family." Bates bought Chelsea for £1 in 1982 when they were in the old Second Division, taking on debts of £1.5m, and set about turning around their fortunes. He eventually sold the club to Roman Abramovich in 2003 in a deal worth £140m when they were in the English top flight. Chelsea said in a statement that "Ken's determination to fight for Chelsea when times were tough, and drive the team on to winning trophies will never be forgotten." Under Bates, Chelsea won the FA Cup in 1997, ending a 26-year wait for a major trophy, as well as the League Cup and European Cup Winners' Cup. The Chelsea Supporters' Trust said it was "deeply saddened," calling Bates "one of the most significant figures in Chelsea Football Club's modern history" who "played a defining role in securing the club's future at Stamford Bridge." After failing in a bid to invest in Sheffield Wednesday, Bates was Leeds owner from January 2005 to December 2012. During his tenure, Leeds lost in the Championship play-off final in 2006, went into administration in 2007 and were relegated to the third tier for the first time. Bates was part of a consortium that bought the club back from administrators, and Leeds returned to the Championship in 2010. He stayed on as chairman and then briefly honorary president before leaving Leeds in July 2013.