Sir Jim Ratcliffe moves to sell OGC Nice, shifts full focus to Manchester United

Ratcliffe prepares Nice exit after UEFA ownership complication

Sir Jim Ratcliffe is preparing to offload OGC Nice as part of a strategic move to consolidate INEOS’s football operations around Manchester United. Having acquired a 27.7% stake in United for £1.25 billion earlier this year, INEOS has signalled its intent to shift long-term focus to the Premier League club.

INEOS bought Nice in 2019 for €100 million, but in recent years, the relationship between owner and club has visibly cooled. Ratcliffe’s own comments — notably, “Nice doesn’t amuse me anymore” — have only intensified speculation about the Ligue 1 side’s future under the group’s ownership.

UEFA multi-club rule triggers structural pressure

This season, both Manchester United and Nice qualified for the UEFA Europa League — activating regulatory complications under UEFA’s multi-club ownership rule. The regulation prohibits two clubs under shared control from competing in the same European competition, prompting Ratcliffe to temporarily transfer Nice into a blind trust to ensure compliance.

However, according to French outlet L’Informe, INEOS has now appointed New York-based investment bank Lazard to oversee a full sale of OGC Nice — suggesting the blind trust was a short-term solution, not a permanent fix.

Saudi interest amid French football’s financial turbulence

INEOS is believed to have set a valuation of approximately €250 million for the club. Reports indicate that the Saudi Public Investment Fund (PIF) — owners of Newcastle United — have expressed interest in the potential acquisition.

Yet the timing is far from ideal. Ligue 1 is grappling with a severe broadcast rights crisis after its four-year contract with DAZN collapsed just one season in. With no confirmed broadcaster for the upcoming campaign, revenue forecasts across French football remain uncertain — complicating due diligence for any prospective buyers.

INEOS investment recap: big spend, modest returns

Since acquiring Nice, INEOS has invested a reported €216 million into the club, which has finished this season in sixth place. Despite periods of promise, the project has struggled to meet its ambitions on and off the pitch. INEOS also owns Swiss side Lausanne-Sport, which finished sixth in the Swiss Super League, raising questions about the group’s capacity to manage multiple clubs at scale.

The planned sale of Nice is now being interpreted as a decisive reset — one that clears the path for INEOS to pursue full sporting control at Manchester United without the complications of UEFA’s multi-club framework. Formal bids are expected in the coming months.