Chinese, American Investors Acquire French Soccer Club OGC Nice

A group of Chinese and American investors have bought an 80 percent stake in French Ligue 1 football club OGC Nice, the club announced on Friday.

The two key investors are Alex Zheng, president of hotel-owner Plateno Group, and Chien Lee, founder and chief executive of NewCity Capital, the club said in a press release issued on Friday.

The other partners are Paul Conway, who represents the Pacific Media Group, Elliot Hayes, also from the United States.

Club president Jean-Pierre Rivere will retain a 20 percent stake in the club. With Julien Fournier, the general director, Rivere will continue managing the club for three years.
"Our investor group is delighted to partner with Jean-Pierre Rivere and the management team to support the OGC Nice project. The club has developed a formidable platform for the future," Lee said.