Chinese, American investors buy French Nice football club

Nice's French forward Hatem Ben Arfa (2nd L) celebrates after scoring a second penalty during the French L1 football match between Nice (OGC) and Angers (ASCO) on January 15, 2016 at the Allianz Rivier stadium in Nice, southeastern France. [Photo/VCG]

PARIS - A group of Chinese and American investors have brought 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.

To Rivere, the deal would "secure the club's future and will give it additional resources. While keeping its identity and guidance".

Thanks to Chinese and American investment, "OGC Nice will gradually reach new caps and continue to grow," he added.

At 2015-2016 season, the French club ranked fourth after scoring 63 points.