Ligue 1 football club OGC Nice has become the latest addition to the sports portfolio of British chemicals company INEOS.

The deal, which has been rumoured for the last few months, has now received the relevant approvals, including that of the French Competition Authority.  

Sir Jim Ratcliffe,The Founder and Chairman of INEOS, commented on the deal: “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.”

The acquisition of the Fench outfit follows on from INEOS’ successful high-profile deal which saw them take over and re-brand the Sky cycling team to Team INEOS – who in turn retained this years Tour de France.

Moreover, OGC Nice will join Swiss second tier side FC Lausanne in INEOS’ football portfolio, with the British company having completed its takeover of the Swiss side in 2017.

Sir Ratcliffe added: “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.”

Nice, who are currently managed by former World Cup and Premier League winning midfielder Patrick Vieira, will become part of the newly branded ‘INEOS Football’ group and will next be in action on 28 August when they host Marseille.