We’re told he passed away peacefully in Monaco this morning surrounded by his wife and family.
Bates bought Chelsea Football Club for £1 in 1982 when they were in the old Second Division.
During his tenure, he helped the club win a long-running battle with property developers attempting to evict them from Stamford Bridge.
A statement from Chelsea Football Club reads:
“Ken’s determination to fight for Chelsea when times were tough and drive the team on to winning trophies will never be forgotten.”
