Ligue 1: Chinese and American investors acquire majority of OGC Nice, J-P Rivère to remain president

A group of Chinese and American investors acquired a majority stake in OGC Nice (Ligue 1), announced Jean-Pierre Rivère, the previous majority shareholder and club president, in Nice (FRA), on 10/06/2016.

This group consists of the businessmen Chien Lee (CHN), Alex Zheng (CHN), Paul Conway (USA) and Elliot Hayes (USA). Specialised in tourism, hospitality, media and real estate business in China and the USA, all four were present alongside Jean-Pierre Rivère at the announcement.

The financial arrangement with the arrival of these new investors was not disclosed by Jean-Pierre Rivère on 10/06/2016. The regional newspaper Nice-Matin reported the four men have acquired an 80% stake in OGC Nice; 49% by purchasing the shares belonging to the four minority shareholders (Gilbert Stellardo, Patrick Governatori, Jean Bessis, and Louis Bacchialoni), along with 31% taken from the 51% held by Jean-Pierre Rivère. The current president of OGC Nice therefore retains a 20% stake of the club, and will remain in charge of the club.

"The financial transactions total an amount of approximately €20m, to…