Leeds United has fallen behind. A European power in the late 1990s, Leeds United has seen better days on the pitch and currently plays in Football League Championship (one step below the Premiership). Founded in 1919, the team has won three League Championships and one FA Cup over the years. The team is also known as the Whites, United, and the Peacocks. Club-related publishing, merchandising, and travel businesses round out its operations. In early 2005 former Chelsea chairman Ken Bates saved the club from bankruptcy with an investment of nearly $20 million, establishing a 50% stake in the club.