Ineos Confirms Ogc Nice Takeover Amid Wider Acquisition Strategy
Ligue 1 football club OGC Nice has become the latest sporting acquisition by British chemicals company INEOS.
News of the takeover has been rumoured for several months, but the company has announced that all of the relevant approvals, including that of the French Competition Authority, have been received and the deal can be finalised.
The Founder and Chairman of INEOS, Sir Jim Ratcliffe, has invested heavily into sport and will add the French side to the company’s growing portfolio of teams within the sector, with Swiss second tier side FC Lausanne, Ben Ainslie’s INEOS TEAM UK and Team INEOS cycling team – formerly Team Sky – already counted among the owned properties. Colombian cyclist Egan Bernal became the first Grand Tour winner of the Team INEOS era, winning the 2019 Tour de France with teammate Geraint Thomas finishing second.
Nice are currently managed by former Arsenal midfielder Patrick Vieira, and the club will become part of the newly branded ‘INEOS Football’ group.
Sir Jim Ratcliffe, Chairman of INEOS said: ‘We are absolutely delighted about acquiring OGC Nice. It has been quite a long journey getting here, but it is unique, and we were determined to complete the purchase of the club. We have looked at a lot of clubs in the manner we look at businesses in INEOS – for value and potential – and 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.”
“OGC Nice has a great history and tradition, with a passionate fan base, whom will play an important role in our journey. The Allianz Riviera stadium is superb and the new training centre, which is integral for any successful team, is equally as impressive. It’s tough to improve on the location on the Med and over the last 20 years we have established roots in this beautiful area.”
