From Rags to Riches
British businessman Ken Bates, 92, rose from humble beginnings on a council estate in Hanwell, West London to become the owner of Chelsea Football Club. In 1982, Bates bought the struggling club for a measly £1, despite it being unable to pay players' wages and on the brink of collapse.
The Rise of Chelsea
Under Bates' ownership, Chelsea transformed from a second-tier team to one of the powerhouses in English football. His investment in players and coaches allowed the club to compete at the highest level, eventually earning promotion to the newly formed Premier League.
Successes and Achievements
During his 21-year tenure, Bates led Chelsea to two FA Cup victories, the European Cup Winners' Cup, and the League Cup. The club also consistently finished in the top six of the Premier League during his last seven years as owner. Notable players such as Gianfranco Zola, Roberto Di Matteo, and Gianluca Vialli graced the pitch in the iconic blue jersey.
The Abramovich Era
In 2003, Bates sold Chelsea to Russian billionaire Roman Abramovich for a staggering £140 million, which included the club's debts. Although the sale saw Bates make a £17 million profit, he has denied claims that the club was in financial trouble at the time.
Life in Monaco
Following the sale of Chelsea, Bates now resides in Monaco, enjoying the luxuries that come with his success. However, his involvement in football didn't end there.
Leeds United Interlude
In 2005, Bates became the owner of Leeds United for two years. However, the club was later placed into administration with debts of £35 million, signaling the end of his ownership.
Bates now mostly watches football on TV with his wife Suzannah, a former sports journalist who is ghost-writing his autobiography. Despite his glamorous life in Monaco, Bates does return to the UK for short periods, jokingly citing tax laws as the reason for his visits.
