It has emerged that British tycoon Jim Ratcliffe is the new owner of French top football league side Nice FC, which he acquired during the close of last season.

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Jim, who is one of the richest people in Britain, shot into the limelight recently after sponsoring world marathon champion Eliud Kipchoge's 1:59 challenge through his INEOS firm.

With his new venture, says that his goal at Nice is to help nurture young people in the form of a sporting incubator, as he also seeks to make the team gather the European attention.

The tycoon in a Reuters article published by Citizen Digital says that he will not be splashing millions in buying superstars as the other teams are doing, but will actually settle at picking youngsters and turning them into stars.

“Yes, it’s the club’s philosophy, bring on very young players. Playing in the Champions League would be great for Nice and we can do it wisely,” Jim said on Friday.

In Switzerland, he owns Lausanne Sport and is at the same time sponsoring Ben Ainslie's 2021 America's Cup Sailing venture.

His petrochemical and acquisition company INEOS, which sponsored the race where Kipchoge became the first man to run a marathon under 2-hours on Saturday, also employs 12,000 people in 24 nations.