Soccer investment to help local game

With Chinese capital flooding into the European soccer market, investors hope that part of their return will be improved training for youth at home.

Amid a Chinese buying spree of top European clubs, a consortium led by businessmen Li Jian and Zheng Nanyan announced on Tuesday that it has purchased an 80-percent stake in French Ligue 1 club OGC Nice, becoming the first Chinese majority owner of a top-tier French club.

The club's current president, Jean-Pierre Rivere, will remain in the post to manage the club, which finished fourth last season, while the Chinese owners will provide funding and strategic support for further development and promotion, especially in China.