French Ligue 1 club Nice has been sold to British billionaire Sir Jim Ratcliffe and his Ineos chemical company.
According to the BBC.co.uk, one of the richest men in Britain had a bid of 100 million euros accepted.
The offer was made earlier in the year, but Ratcliffe and his company have investments in other sporting ventures, including another football club.
Therefore the French Competition authority had to complete an investigation before giving the deal the go-ahead.
Nice is currently managed by former Arsenal and France midfielder Patrick Vieira.
There were rumours he was unhappy at the change of ownership earlier in the summer, but those stories appear to have been premature.
Ratcliffe said upon the deals official conclusion:
“It has been quite a long journey getting here.”
“We have looked at a lot of clubs in the manner we look at businesses in Ineos – for value and potential – and Nice fulfills that criteria.”
He and his company also own stakes in what was Team Sky’s cycling team, the British American Cup sailing team as well as Swiss second division side Lausanne.
“We made some mistakes at Lausanne, but we are fast learners.”
“These have been rectified and we are already seeing the benefits.”
“Clubs need to be successful off the pitch, as well as on it, and Nice will be no different.”
Nice fans will be hoping that some new investment in the club, may turn around their fortunes on the field too.
They finished last season in seventh, some 10 points outside of the Europa League spot, and 16 points outside of a Champions League place.
Ratcliffe is personally worth around 11 billion dollars, and his Ineos company revenues of around 90 billion a year.
While his wealth pales in comparison to the investment group behind PSG, there will be the hope they can be a little more competitive with some financial muscle behind them.
— OGC Nice (@ogcnice) August 26, 2019