In the 13 years since Qatar Sports Investments began piping its cash into the bank account of Paris Saint-Germain, supporters of every other club in France have found little cause for optimism.
When a nation state is prepared to spend £1.9bn on players of the ilk of Lionel Messi, Kylian Mbappe and Neymar, the essence of competition is in danger of being lost.
In the six seasons between 2007-08 and 2012-13, Ligue 1 had six different winners — Lyon, Bordeaux, Marseille, Lille, Montpellier and PSG.
Since the Parisian giants claimed that title, they’ve racked up 10 in 12 seasons including 2015-16 when they finished 31 points ahead of Lyon — a record margin for a top-five European league.
That Monaco (2016-17) and Lille (2020-21) managed to pip them to the post was nothing short of astonishing.
Back in 2019, long-suffering supporters of Nice were given reason to believe that, in the fullness of time, they could be the next side to spring from the pack and offer a serious challenge to PSG’s dominance.
Nice fans had high hopes when Sir Jim Ratcliffe and INEOS bought into the Cote d’Azur outfit
Nice have won the Ligue 1 title four times but all of them came away back in the 1950s
The sheer wealth of Paris Saint-Germain has made it difficult for other clubs to break through
While Les Aiglons hadn’t been champions of France since 1976 (their last major trophy was the Coupe de France in 1997), the £83m takeover by Sir Jim Ratcliffe and INEOS that summer suggested better times might lie around the corner.
With average crowds of 28,000 in their 36,000 capacity Allianz Riviera Stadium the eighth best in the country, the future Manchester United powerbroker certainly bought into huge potential.
Canvass the opinion of supporters along the city’s famous Promenade des Anglais these days, however, and a mention of Ratcliffe’s name is likely to be met with Gallic shrug of indifference.
Unlike Lausanne-Sport, the Swiss side which was relegated shortly after Ratcliffe’s company took ownership in 2017, the English billionaire’s tenure with Nice has certainly been no disaster. But nor has he taken them into the fast lane as was anticipated.
Justin Kluivert competes for the ball in Nice’s 2022 French Cup final defeat to Nantes
In the five years before the INEOS takeover, Nice finished third (2016-17) and fourth (2015-16) with a low of 11th (in 2014-15).
While they’ve never finished lower than ninth since INEOS took control, the best they’ve managed is three fifth-places finishes.
Presently sitting fifth in Ligue 1, some 12 points behind — you’ve guessed it — PSG, it’s fair to suggest that a bona fide title challenge again seems unlikely.
Despite spending huge sums on players like Kasper Dolberg (£18m) and Terem Moffi (£19.8m) there has been absolutely no consistency to Nice since INEOS took charge.
Although all three have now departed, the trio of Mbappe, Messi and Neymar stood tall at PSG
The high point came when the side reached the French Cup final in 2022, where they narrowly lost to Nantes in the Stade de France. That preceded a humiliating exit to third-tier Le Puy Foot 43 the following year.
Clearly tired of the huge turnover in players, club captain Dante then broke cover and took aim at the regime for talking big but failing to offer any stability behind the scenes.
‘I think at some point you have to be clear in what you are saying,’ said the Brazilian. ‘To maintain a project, maybe you need to speak less about objectives and work in silence to create an environment of competitors.
‘Because the expectation is even bigger, and then after, people are frustrated. The best thing to do is prepare as quickly as possible for next season in order to start it well.
Veteran Brazilian defender Dante has been vocal about the lack of stability at the club
‘Do you remember how many players came in at the end of the transfer window last summer? Six left, six arrived. It’s difficult in these conditions. There is a lack of coherence somewhere. I am sorry to say that.’
None of it, certainly, has even come close to matching the promises of those early days.
‘It’s been quite a long journey getting here, but it is unique, and we were determined to complete the purchase of the club,’ Ratcliffe said back in 2019.
‘We have looked at a lot of clubs in the manner we look at business in INEOS — for value and potential — and Nice fulfils that criteria.
‘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.
Ratcliffe with Nice president Jean-Pierre Riviere during a league fixture back in May
‘OGC Nice has a great history and tradition, with a passionate fan-base who will play an important role in our journey.
‘We made some mistakes at Lausanne, but we are fast learners. These have been rectified, and we are already seeing the benefits.
‘Clubs need to be successful off the pitch as well as on it and OGC Nice will be no different as we look to take the club from strength to strength in all aspects over the coming years.’
Bob Ratcliffe, Sir Jim’s brother who was made the club’s chief executive when the takeover went through, stated that the club would be playing Champions League football in ‘three to five years’. That prospect remains distant.
Nice made the Europa League in 2020-21 but finished bottom of their four-team group.
Ali Abdi hails a goal in Nice’s most recent Europa League outing, a 2-2 draw at home to Twente
They qualified for the quarter-final of the Conference League two years ago but, to date in this year’s Europa, have only two points from four matches ahead of Rangers’ visit on Thursday.
While they are actually on a good run in the league — the weekend win over Strasbourg extended their unbeaten streak to eight games — over the piece, it’s hardly been the stuff of dreams.
This largely underwhelming period in the club’s history has come at a price.
Back in the day, the strategy was to sign emerging talents, develop them and sell them on to the highest bidder. In the five years before Ratcliffe moved in, the club made a £45m profit in the transfer market.
Patrick Vieira arrived with a big reputation but failed to turn the club into challengers
Across the past five seasons, some £250m has been spent. While the £13.5m which was spent on a new a training complex may bear fruit in the longer term, increasingly, bemused supporters are asking what’s been achieved.
It’s not just the open chequebook transfer policy which has caused more problems than it has solved. There’s been a huge turnover of sporting directors and executives. An unstable environment has not been conducive to progress.
And that’s before you come to the managers. Patrick Vieira was in situ when INEOS came in but only lasted until December 2020. Adrian Ursea then survived six months while Christophe Galtier (the man who miraculously took Lille to the title) got a year.
Lucien Favre’s big return ended after seven months with Didier Digard (six months) and Francesco Farioli (one season) next to fly through the revolving door before ex-Lens manager Franck Haise was put in charge this season.
Current Nice coach Frank Haise has overseen a steady run of form in the league this season
The diminishing level of faith in Ratcliffe in Nice threatened to come to a head this summer.
With Manchester United and the French side both set to compete in the Europa League, the hope on the Riviera was that the situation might force a change in ownership.
But, after receiving guarantees that both clubs had enacted changes to comply with the multi-club ownership rule, UEFA’s Financial Control Body gave the matter the green light.
Five years after taking ownership of the club, Ratcliffe is apparently going nowhere. The same might be said of Nice.