Chelsea Football Club were founded by Gus Mears in 1905. After his death in 1912, his...Chelsea Football Club were founded by Gus Mears in 1905. After his death in 1912, his descendants continued to own the club until 1982, when Ken Bates bought the club from Mears' great-nephew Brian Mears for £1. Bates bought a controlling stake in the club and floated Chelsea on the AIM stock exchange in March 1996. In July 2003, Roman Abramovich purchased just over 50% of Chelsea Village plc's share capital, including Bates' 29.5% stake, for £30 million and over the following weeks bought out most of the remaining 12,000 shareholders at 35 pence per share, completing a £140 million takeover.