Sir Ratcliffe says Ineos will not be 'dumb money' behind OGC Nice
Chairman says chemicals company's acquisition of French Ligue 1 football club is aimed at driving future value and growth
London, UK-headquartered petrochemicals company Ineos has completed a deal to acquire OGC Nice Football Club – a Ligue 1 team led by former World Cup winner Patrick Viera and club captain and Brazilian defender Dante, with the Allianz Riviera stadium as its home ground – that will be part of Ineos Football, led by chief executive officer Bob Ratcliff, with the deal following Ineos’s acquisition of Lausanne Sports Football Club in November 2017.
The acquisition of OGC Nice has received all approvals required from top authorities, including French Competition Authority.
Commenting on the development, Ineos chairman, Sir Jim Ratcliffe, 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."
Ratcliffe said Ineos's acquisitions were aimed at creating value and potential for future growth, adding: “Patience is also important and the work we do here will be built on solid foundations. We have a plan in place and we will follow it. I am adamant we will not be the dumb money.”