Bates to unveil Wednesday plans
Former Chelsea chairman Ken Bates is to announce his plans to invest in Second Division Sheffield Wednesday today.
Bates, who left his post at Stamford Bridge earlier this month, is hoping to put £10m (€15m) into the Owls.
The 72-year-old made £18m (€26.9m) from the sale of Chelsea to Roman Abramovich last summer after buying the club for just £1 (€1.50) in 1982.
During his time in charge at Stamford Bridge, Bates transformed the Blues from a struggling Second Division club into a serious Premiership force.
He initially planned to stay on as chairman for two years after selling to Russian billionaire Abramovich but decided to cut short his tenure to pursue “another challenge”.
