Former Chelsea chairman and owner Ken Bates has died at the age of 94.

Bates, who famously bought the west London football club for just £1 in 1982, passed away peacefully in Monaco on Saturday morning surrounded by his wife and family.

Chelsea announced the news in a statement, saying: ‘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.’

Bates became the third-longest chairman in Chelsea’s history, holding the position for 22 years.

Former Chelsea chairman and owner Ken Bates has died at the age of 94

Bates famously bought Chelsea for just £1, and sold the club to Roman Abramovich in 2003

Bates took over at Leeds United in 2005 after their relegation to the Championship

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. 

In a statement The Chelsea Supporters’ Trust paid tribute, saying:

‘The Chelsea Supporters’ Trust is deeply saddened to learn of the passing of former Chelsea owner and chairman, Ken Bates.

‘Ken was one of the most significant figures in Chelsea Football Club’s modern history. Taking charge during one of the club’s most difficult periods, he played a defining role in securing the club’s future at Stamford Bridge and helping lay the foundations for the success that followed.

‘His impact on Chelsea will be remembered for generations, and his place in the club’s history is assured.

‘The thoughts of the CST board & all our members around the globe are with Ken’s family, friends and all those who knew him.

‘Thank You, Ken.’

More to follow.