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#2 Chelsea was sold for £1 in 1982
In 1982, Chelsea was in serious financial debt and was unable to pay its players. At this point, businessman Ken Bates took over the club for £1 while taking on debts of £1.5m! By this time, the club was is grave danger and was losing £12,000 a week!
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Although the figure of £1.5m in debt may not seem like much now, back in 1982, that was a huge figure. With Bates as the owner, Chelsea cemented itself as a top-tier club and found success along the way.
Also read: The incredible starting XI of players sold by Chelsea
However, in 2003, the club was once again in financial crisis and Bates’ stake had been diluted to just below 30%. The club was unexpectedly sold for £60m in June 2003 with Bates pocketing £17m in profit on the club he bought for £1.
The new owner was Roman Abramovich who took full responsibility for Chelsea’s £80m debt. Bates went on to buy Leeds United two years later while Chelsea came to fore as one of the biggest clubs in the world.
