According to The Independent, INEOS, the minority owner of Manchester United, is contemplating the sale of its sister club, OGC Nice. This decision arises as both clubs encounter regulatory hurdles from UEFA concerning dual ownership and eligibility in European tournaments.
Earlier this year, INEOS acquired a 27.7% stake in Manchester United, showcasing their ambitions to overhaul the club significantly. Jim Ratcliffe, the chairman of INEOS, is resolute in his mission to revive Manchester United to its former glory as the foremost power in English football. However, achieving this vision necessitates substantial dedication and investment to revitalize the team and their infrastructure at Old Trafford.
UEFA is likely to grant both Manchester United and Nice a one-season transition period, allowing them to participate in the Europa League. This interim measure is expected to involve placing Nice in a “blind trust,” a tactic previously utilized to navigate ownership conflicts, such as RedBird Capital’s simultaneous interests in AC Milan and Toulouse last season. Nevertheless, UEFA has indicated that this workaround will only be acceptable for the 2024/25 season, with stricter regulations looming for 2025/26.
INEOS looking to sell Manchester United sister club OGC Nice
This regulatory pressure is one of the driving factors behind INEOS’s openness to selling Nice. Adding complexity is the uncertain status of Ligue 1’s domestic television rights market. Presently, no broadcaster has secured the rights, resulting in a significant decrease in revenue projections from potential €1 billion deals to around €500 million.
The unresolved broadcasting agreement presents additional financial uncertainties for Nice and other French clubs.
