Real Estate Investor Buys Stake in Ivory Coast Football Club (1)

Real estate investor Cheick Sanankoua is buying a minority stake of an Ivory Coast football club through his private equity outfit Omega Sports Holdings, as part of a larger $50 million investment push into African sports over the next three years.

The investment in Racing Club d’Abidjan, a football team based in Ivory Coast’s largest city, is Omega Sports Holdings second deal, following an investment in Abidjan Basketball Club. Racing Club d’Abidjan is a partner club of OGC Nice, owned by billionaire Jim Ratcliffe. Sanankoua declined to reveal the financial details.

Sanankoua, 40, a former analyst at Merrill ...