Ineos snaps up 'local' Swiss football club

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Ineos snaps up 'local' Swiss football club

British-owned multinational chemical firm INEOS has agreed to buy Swiss club Lausanne-Sport.

The sale of FC Lausanne-Sport to Ineos was confirmed at a media conference on Monday afternoon.

The football purchase was announced at Ineos's offices in Rolle, Switzerland.

Lausanne returned to the Swiss top flight last season after being relegated to the country's second division in 2010. These will enable the development of local junior players between the ages of 12 and 18, with the better players being given the opportunity at the ages of 17-18 to move to Lausanne and join the Team Vaud academy for two years.

Founded in 1896, Lausanne-Sport plays at the Stade Olympique de la Pontaise - a 15,700 seat stadium that was used for the 1954 World Cup.

The company said the deal was to continue its investment in "local" sport, despite pledging previous year to return its headquarters from Lausanne to the UK.

Lausanne, coached by former Switzerland midfielder Fabio Celestini, is sixth in the 10-team Swiss league.

Ineos was founded by Mr Ratcliffe almost 20 years ago, and employs about 17,000 people worldwide.

The company considers its headquarters to be in Knightsbridge in London, while its registered address is in Hampshire.

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