Ineos buy French club Nice
Nice, managed by former Arsenal and France international Patrick Vieira, will become a part of ‘Ineos football’ led by CEO Bob Ratcliffe.
The deal has received all required approvals including French Competition Authority.
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Hide AdSir Jim Ratcliffe, founder and chairman of Ineos, is Britain’s third richest man with an estimated net worth of more than £18 billion, according to the Sunday Times Rich List for 2019.
Ratcliffe said: “We have looked at a lot of clubs in the manner we look at businesses in Ineos – for value and potential – and OGC Nice fulfils that criteria.
“With some sensible, measured investment, we want to establish OGC Nice as a team that competes in European club competition on a regular basis. And importantly, sustain it.”
Ineos also owns Swiss second division side Lausanne which it acquired in November 2017.
Ratcliffe said: “We made some mistakes at Lausanne, but we are fast learners, these have been rectified and we are already seeing the benefits.”