Chinese, U.S. investors buy 80 percent of French football club Nice
PARIS (Reuters) - A group of Chinese and American investors have brought an 80 percent stake in French Ligue 1 football club OGC Nice, the club said on Friday without disclosing the fee.
The club said the two principal investors are Alex Zheng, president of hotel-owner Plateno Group, and Chien Lee, founder and chief executive of NewCity Capital.
They have partnered with Paul Conway, who represents the Pacific Media Group and a fourth investor, Elliot Hayes, also from the United States.
"We want to use our business contacts to develop the club in China," the statement quoted Lee as saying.
Club president Jean-Pierre Rivere will retain a 20 percent stake in the club.
(Reporting by Matthias Galante; Editing by by Richard Lough)