Ligue 1 side Nice has been purchased by INEOS, a petrochemicals company owned by British billionaire Sir Jim Ratcliffe in 1998.
INEOS already owns Swiss Challenge League side Lausanne Sport, which it acquired in November 2017, while in March it bought the UCI World Tour cycling outfit formerly known as Team Sky.
The company was named as Nice's main sponsor for the 2019-20 season and has now bought the club, with Ratcliffe pledging to make "measured investment".
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In a statement on Nice's official website, INEOS president Ratcliffe said: "With some sensible, measured investment, we want to establish Nice as a team that competes in European club competition on a regular basis.