5 Newcity Capital & Plateno Group

Chien Lee, founder and CEO of NewCity Capital (2nd to right) poses for a photo with Jean-Pierre Rivere, president of OGC Nice, on June 30, 2016. [Photo/IC]

French soccer club OGC Nice has been bought by a group of Chinese and American investors in July this year. The deal continues a recent trend of European sports acquisitions by Chinese corporations.

The investors are headed by Alex Zheng, president of hotels group Plateno, and Chien Lee, founder and CEO of NewCity Capital. The buying consortium also includes US businessmen Paul Conway of the Pacific Media Group and Elliot Hayes.

Together they have acquired 80 percent of the club, with OGC Nice president Jean-Pierre Rivere retaining 20 percent, the club said in a statement.

Olympique Gymnaste Club Nice C?te d'Azuris a French association football club that plays in Ligue 1, the top-tier of French football. The club has won Ligue 1 four times and the Coupe de France three times.