Shale and chemicals player Ineos has added to its sporting stable with the purchase of top French footballing club OGC Nice.

The private company, which already owns a Swiss football club and now sponsors perennial Tour de France-winning cycling outfit Team Ineos, has taken over the club from the south of France for an undisclosed sum.

“We have looked at a lot of clubs in the manner we look at businesses in Ineos - for value and potential - and Nice fulfils that criteria,” said Ineos chairman Jim Ratcliffe.

“With some sensible, measured investment, we want to establish OGC Nice as a team that competes in European club competition on a regular basis. And importantly, sustain it.”

Nice, founded in 1904, is currently flying high in Ligue 1, France’s top league, with two wins from the first two games ahead of a mid-week home match against struggling Marseilles.

The team is managed by ex-France international star Patrick Vieira, who was one of English club Arsenal’s greatest players in the modern era.

Ineos took over Swiss side Lausanne Sports Football Club in 2017, with Ratcliffe admitting the company “made some mistakes” at the club when it took over, but insisting “we are fast learners”.

“Patience is also important and the work we do here will be built on solid foundations. We have a plan in place and we will follow it. I am adamant we will not be the dumb money,” said Ratcliffe of the Nice acquisition.

Nice mayor Christian Estrosi took to Twitter to welcome Ratcliffe to the city, saying the local club has now “entered a new dimension”.

Ineos also sponsors Lausanne’s ice hockey club, while in late 2017 it acquired motorcycling clothing company Belstaff from JAB Luxury.

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