The late 1970s through to the '80s was a turbulent period for Chelsea. An ambitious redevelopment of Stamford Bridge threatened the financial stability of the club, star players were sold and the team were relegated. Further problems were caused by a notorious hooligan element among the support, which was to plague the club throughout the decade. In 1982, Chelsea were, at the nadir of their fortunes, acquired by Ken Bates for the nominal sum of £1, although by now the Stamford Bridge freehold had been sold to property developers, meaning the club faced losing their home. On the pitch, the team had fared little better, coming close to relegation to the Third Division for the first time, but in 1983 manager John Neal put together an impressive new team for minimal outlay. Chelsea won the Second Division title in 1983–84 and established themselves in the top division with two top-six finishes, before being relegated again in 1988. The club bounced back immediately by winning the Second Division championship in 1988–89.