During the last Municipal Council, the National Rally proposed that the city of Nice sell the Allianz Riviera stadium to reduce its debt. The debt now amounts to 487.8 million euros.
Faced with the increase in Nice’s debt, the National Rally suggests a bold solution: selling the Allianz Riviera stadium. According to the opposition led by Philippe Vardon and Valérie Delpech, since the beginning of Christian Estrosi’s third term as mayor of Nice, the city’s debt has increased by 117 million euros. It is currently 487.8 million euros, or 1,393 euros per inhabitant (compared to 547.8 million on January 1, 2024: Editor’s Note). The National Rally believes this alarming financial situation requires swift measures to lighten the tax burden on the people of Nice.
On October 18, Valérie Delpech, municipal councilor of the National Rally, proposed the sale of the stadium to its main user, OGC Nice, owned by INEOS. This sale could reduce the city’s debt by 80 million euros and allow the municipality to be freed from the financial obligations linked to this public-private partnership (PPP) established by the mayor’s office in 2013. According to her, ten years later, the results are mixed: the Allianz Riviera has a cumulative deficit of more than 20 million euros. Despite a record turnover of over 30 million euros for the Nice Eco Stadium (NES) company in 2023, the stadium still recorded a deficit of 1.1 million euros.
Support other projects while reducing debt?
For the National Rally, selling the Allianz Riviera is a logical response. The city still has 79.8 million euros to repay to NES by January 1, 2025, a burden the party considers unsustainable for municipal finances. By freeing itself from this expense, the budget could be redirected to projects deemed more beneficial for the people of Nice, argues Valérie Delpech.
OGC Nice could thus become the owner of its stadium, like several Ligue 1 clubs or those in Northern Europe opting for this model. In France, Lyon has already set an example, and other clubs like Brest, Lens, or PSG are considering similar options to repurchase their stadiums. The National Rally’s proposal has the merit of opening a debate on Nice’s financial management and the future of a symbolic facility.
