Chinese, U.S. Investors Purchase 80% Stake In Ligue 1 Side Nice

A group of Chinese and American investors bought an 80% stake in Ligue 1 club Nice, according to Matthias Galante of REUTERS. The club confirmed the news on Friday "without disclosing the fee." The club said the two principal investors are Plateno Group President Alex Zheng and NewCity Capital Founder & CEO Chien Lee. They "have partnered with Paul Conway, who represents the Pacific Media Group and a fourth investor, Elliot Hayes," also from the U.S. (REUTERS, 6/12). CHINA TOPIX's Marcel Woo reported with the acquisition of an 80% stake, Nice President Jean-Pierre Rivere "will be left with 20% stake in the club." He "will continue to manage the club for the next three years" with General Dir Julien Fournier (CHINA TOPIX, 6/11).