Originally Posted by
SBRed48
As promised last week when I showed Mister Lee wasn't spending a Euro of his own brass on transfers at Nice I move onto revenue and capital costs during the past 12 months. I said to myself at the outset I wasn't going to spend more than an hour of my precious retirement researching this so here are the findings of that search. For those sad enough to want to check/verify my numbers I Googled combinations of OGC Nice, Chien Lee, France Lg1, Finance, UEFA, Europe and looked at the websites and links to other websites. All figures are in Euros.
Mister Lee's Group bought an 80% share of OGC Nice from the then owner JP Rivere (who retained 20%) for 21 million Euros in June 2016 . In general Rivere runs the football side while Mister Lees Group focus on other matters. Speaking about the takeover Rivere said
"The new investors have been attracted to...the opportunities of OG Nice and the French Riviera/ Cote D Azur, especially in tourism, real estate and hospitality that are at the heart of their business"
I found the following on revenue costs, basically yearly running costs excluding buildings/land.
INCOME
36.3 million pa--- Broadcasting income from French FA/Lg1 from a 726 mill TV deal 2016 to 2020
12.7 million-------UEFA
12.3 million-------Commercial/Hospitality/Sponsorship, including 1.8 mill pa from Allianz Insurance for naming rights
6 million-----------Gate Receipts 0.25 mill x 24 Lg1 and cup games
TOTAL---67.3 mill
EXPENDITURE
12 million---------Wages of top three earners Sneijder 4.5, Dante 4.5, Ballotelli 3 (one year)
24.8 million------Wages of remaing squad, contract plus loan, 31 players x 0.8 million average
12 million--------Football (Non playing) plus non football staff, general running and matchday costs
6 million----------New Training Ground costs including 3 mill mortgage pa on 15.5 building cost
8 million----------generous estimate of Academy running costs for trainees (bfc is approx 1 mill by comparison)
TOTAL---62.8 million
On the capital side Mister Lee took over a 245 mill Stadium completed in 2013 paid for by a combination of public and private finance when the site was identified as a Euro 2016 ground.
The City of Nice are developing one of the few flattish areas of the region ,The Plain of Var, a river valley named Eco Valley, as a sports/leisure/hotel/commercial/residential zone. As part of this they allocated a significant area to OG Nice free of charge to build their new training complex for the first team and Academy. This was completed a few months ago and mainly consists of a 43 bedroom complex with associated catering and meeting rooms and linked gym, changing rooms and medical area. Outdoor pitches complete the area. This cost 15.5 million Euros thought to be on a 3 mill pa mortgage. Parts of the Plain remain to be developed as leisure and hotel areas.
Conclusion-Mister Lee is content to let the football side go along as long as it finances itself while his group focus on property development in the Cote D Azur. Again he dunt seem to ev spent a penny of his own brass.