INEOS's sale of OGC Nice has failed
INEOS's sale of OGC Nice failed when American investors could not ensure financial security and sports stability, forcing INEOS to continue as owner.
The sale of OGC Nice football club owned by INEOS was not successful, according to information from Nice-Matin. A transaction with an American investor to take over the Ligue 1 club is almost complete. However, Nice's future has been hanging in the balance for many months.
It has been more than a year since the INEOS-owned club was put up for sale, with the owners authorizing Lazard to find a buyer. Over the past few months, interest from the US has been mentioned. However, as the club found themselves in a relegation battle, the deal did not progress.
Nice's status in the top flight for next season was secured thanks to a 4-1 win over AS Saint-Étienne in the promotion play-off at the end of May. Nice has set a deadline of June 15 to complete the transaction and all signs are positive. New investors even visited the club's training facility, however, the deal fell through.
The decision was confirmed by Jean-Claude Blanc on Friday. Nice-Matin said "financial security and sporting stability" were not guaranteed by potential new investors. INEOS, which also holds a minority stake in Manchester United, are now preparing as if they will remain owners of the club next season, although they remain open to a sale.
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