Jim Ratcliffe is the richest person in the UK, with a net worth of an estimated £21.05 billion.
The club, led by Arsenal legend Patrick Vieira, has now taken further steps of establishing themselves as a force in France - after recently investing in a new stadium and training complex which can be seen in the gallery above.
"We have looked at a lot of clubs in the manner we look at businesses in INEOS - for value and potential - and OGC Nice fulfils that criteria," Ratcliffe said in a official statement.
"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 has a great history and tradition, with a passionate fan-base, whom will play an important role in our journey. The Allianz Riviera stadium is superb and the new training centre, which is integral for any successful team, is equally as impressive.
"It's tough to improve on the location on the Med and over the last 20 years we have established roots in this beautiful area."