U.S. tycoon McCourt completes Marseille purchase

Paris - American tycoon Frank McCourt on Monday officially completed his purchase of Ligue 1 side Marseille, his communications office confirmed.

The 63-year-old former owner of the Los Angeles Dodgers signed the necessary paperwork in Paris having entered into exclusive discussions to buy Marseille from owner Margarita Louis-Dreyfus on August 29.

McCourt's ownership takes effect on Monday with his new club president Jacques-Henri Eyraud, arriving at the team's Velodrome stadium to mark the start of a new era after 20 years under the control of the Louis-Dreyfus family.

The Boston-born McCourt becomes the latest American to take control of a European football club; Manchester United, Arsenal, Liverpool and Roma all have U.S. owners.