OGC Nice’s and Ineos still discussing takeover

5 April 2019 | Finance & Regulation
OGC Nice’s and Ineos still discussing takeover
Sir Jim Ratcliffe, the billionaire owner of British petrochemical company Ineos, is pressing on with his efforts to purchase top-flight French soccer club OGC Nice.

The 66-year-old reportedly made a bid worth US$100.5 million for the Ligue 1 club in February but saw that offer rejected by owner Chien Lee, who also counts English lower league soccer side Barnsley among his portfolio.

However, Ratcliffe and Ineos have not given up on the deal. Ratcliffe, who recently purchased leading UCI WorldTour cycling outfit Team Sky, has sent his brother Robert to the south of France to negotiate with Nice’s mayor, Christian Estrosi, in an attempt to accelerate proceedings, according to the Press Association (PA).

In a statement released to PA, Ineos said: “Ineos confirms that it has expressed an interest in the club and has had exploratory discussions but can say nothing more at this stage.”

Ratcliffe, who is worth an estimated US$27.4 billion, is stepping up his efforts to add the soccer club to his growing sports portfolio.

Ratcliffe is reported to have first approached the club regarding a takeover in November 2018, shortly after he moved to nearby Monaco, according to PA.

In addition to Team Sky, Ratcliffe also bought Swiss soccer club Lausanne in 2017.

Nice are currently eighth in Ligue 1 and are managed by former Arsenal star Patrick Vieira.

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