US, Chinese investors buy 80 percent of French team Nice

Photo by Alexis Boichard/Agence Zoom/Getty Images
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NICE, France (AP) A group of Chinese and American investors, who specialize in real estate, hotel and tourism, have bought 80 percent of French soccer club Nice for an undisclosed fee.

Club president and former majority owner Jean-Pierre Rivere will retain a 20 percent stake.

Rivere said Friday that the deal will help “secure the future of the club.”

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Nice said the two main investors are Chien Lee and Alex Zheng. They have partnered American Paul Conway who represents the Pacific Media Group and a fourth investor, also from the U.S., Elliot Hayes.

Nice finished fourth in Ligue 1 last season, qualifying it for the Europa League. Since 2013, the club has been playing in a new stadium, which is one of the ten grounds being used in the European Championship.