Newspaper article The Evening Standard (London, England)

[Pounds Sterling]2m for Bates 0; Ex-Chelsea Chairman Wants Deal for Quitting

Newspaper article The Evening Standard (London, England)

[Pounds Sterling]2m for Bates 0; Ex-Chelsea Chairman Wants Deal for Quitting

Article excerpt

Byline: MATT HUGHES;STEVE STAMMERS

KEN BATES is seeking a [pounds sterling] 2million payoff from Chelsea after resigning as chairman.

Bates's resignation speech at his final Supper Club last night was more low-key than had been expected because he has yet to reach a deal with the club's new owners.

The 72-year-old stopped short of a scathing criticism of the new regime but made it clear he was unhappy at being forced out, blaming his exit on "a clash of Eastern and Western cultures".

Under the terms of a contract agreed following Roman Abramovich's [pounds sterling] 140million takeover last summer, Bates was to remain as chairman until 2005 and then become life president and was entitled to expenses to cover the work he would do on behalf of the club, estimated to be worth [pounds sterling]200,000 a year for life. The contract did not provide for a salary and does not contain a notice period or payoff clause if it is terminated.

Behind-the-scenes talks have been going on for some time over his departure and it is understood Bates, who received [pounds sterling]17m from Abramovich for the takeover, has not ruled out the possibility of legal action if he does not receive a satisfactory settlement.

Chelsea had already made a [pounds sterling]1m offer before last night's events but this has yet to be agreed.

"I feel that - and I have taken advice on this - that the agreement I had in July has not been honoured," said Bates. "It has been broken and I have resigned as chairman of Chelsea Football Club."

When asked about any settlement, Bates said: "Mind your own business."

During an emotional evening at Stamford Bridge, Bates made a relatively quiet retreat by his standards but aimed several thinly veiled criticisms at the Abramovich regime's way of conducting business. He said: "All good things come to an end and this is the last chairman's Supper Club. It was anticipated that I would be phased out when the new regime took over and it's not gone as I thought it would.

"It's a clash of Eastern and Western cultures. Their philosophy is not my philosophy and my values are not their values. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.