A mystery Saudi prince and a Manchester United-supporting British businessman on Friday led a buyout of French Ligue 1 club OGC Nice, the club announced.
The pair and their partners have purchased 49 percent with their share to eventually rise to 80 percent, Nice president Jean-Pierre Rivere said, without revealing the value of the deal.
“After the first stage, in which they take 49 percent, the new shareholders, with the Saudi, will take 80 percent of the club,” Rivere said.
Businessman Edward Blackmore, head of the Sports Investment Fund, said he is unable to reveal the identity of his Gulf partner.
“We are investing together with my partner, but not only him,” said Blackmore, who would only say that the member of the Saudi royal family was at his home in France’s southern Cote d’Azur region.
Rivere added that the Saudi prince asked not to appear in front of the cameras until the majority share had been established, which is set for June this year.
Rivere is to retain 20 percent control and remain president, while Blackmore, described as a Manchester United fan on the club’s official Web site, is to become vice-president.
Blackmore said that Friday’s deal was the culmination of six months of discussions and despite the new look, there would not be sudden, radical shake-ups.
“With my partner, we totally believe in the project already in place. We will support it so that it can be fulfilled,” he added.
Blackmore, 36, added that he had more than 10 years experience in the investment business, especially in the sports industry.
“I have also worked for other members of the Saudi Arabia royal family, who have purchased clubs in the United Kingdom,” he said.
Rivere said that the club’s training center could be opened in June 2017 at a cost of 15 million euros (US$16.24 million).
“We will not buy players for 10 or 15 million euros. We will keep our best youngsters, even if, during the transfer window, we could have made a lot of money,” Rivere added.
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