Jim Ratcliffe, one of Britain’s richest men, has acquired Ligue 1 side OGC Nice through his billion dollar chemical company INEOS Group for a reported €100m fee, despite owning Swiss side FC Lausanne-Sport who play in the Swiss Super League, which he acquired in 2017.

In an official statement on the club’s website, the deal was completed on Monday after the French Competition Authority gave approval for the acquisition five days ago.

Nice, who were owned by Chien Lee, Alex Zheng, and Paul Conway, finished seventh last season but have begun the new campaign with two wins from two games.

The Eaglets are managed by former World Cup winner and Arsenal Legend Patrick Viera.