OGC Nice: the takeover of the club in 2 steps by a British investor and a Saudi prince is cancelled

Jean-Pierre Rivère, president of OGC Nice (Ligue 1) announced the cancellation of the agreement with the British investor Edward Blackmore and a Saudi prince (whose identity was not revealed at the time of the announcement of the agreement), on 12/02/2016.

OGC Nice had announced, on 29/01/2016, that Edward Blackmore and a Saudi prince (whom the local newspaper Nice Matin claimed, on 12/02/2016, to be Mohammed Bin Abdulrhamann Bin Abdulah Al Faisal) had become 49% shareholders of OGC Nice by purchasing the shares belonging to the four historic minority shareholders of the club (Gilbert Stellardo, Patrick Governatori, Jean Bessis and Louis Bacchialoni). Both new investors were to become the majority shareholders of OGC Nice by the end of June 2016 by acquiring 31% of the 51% held by Jean-Pierre Rivère, which would have increased the holding of Blackmore and the Saudi prince to 80%.

"The arrival of new shareholders at OGC Nice was scheduled in two steps. First, the acquisition of the 49% from the minority shareholders. The second, the acquisition of 31% of my stake by the end of June…