Petrochemicals giant INEOS buys Swiss football team

Swiss club Lausanne-Sport to be taken over by British-owned chemical firm

Ineos, the petrochemicals company founded by billionaire Brexit backer Jim Ratcliffe, has announced plans to buy a Swiss football club, the latest in a spree of seemingly unconnected acquisitions.

INEOS believes that Lausanne Sport has the potential to develop to the top of the Swiss league.

It has won the league seven times, the last in 1965, and the cup nine times. Club president Alain Joseph has been seeking a buyer for several months.

The investment in FC Lausanne-Sport is part of the company's support for youth and community sports. 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. It last played in the Europa League in 2010 as a second-division club.

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The chemicals manufacturer has bought Lausanne-Sport, right, for an undisclosed sum.

The football team has won the league seven times and is now sixth in the Swiss Super League.

Alain Joseph said Ineos had the ambition and drive to take the club to the next sporting level.

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

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