Chemicals giant Ineos set to buy Swiss football team
First it was biker wear, now Jim Ratcliffe – the billionaire owner of multinational petrochemicals giant Ineos – is set to add a football team to his collection of esoteric buys.
According to reports in Switzerland, the sale of FC Lausanne-Sport to Ineos will be officially announced later.
It has won the league seven times, the last in 1965, and the cup nine times.
Ineos snapped up motorcycle wear firm Belstaff last month after it was put up for sale by JAB Holdings.
The football purchase is set to be announced later on Monday at Ineos’s offices in Rolle, Switzerland.
Club president Alain Joseph has been seeking a buyer for several months.
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.
In recent years it has had a topsy-turvy existence, with a number of relegations and promotions, and currently plays in the top-tier Swiss Super League.
Ineos was founded by Mr Ratcliffe nearly 20 years ago, and employs about 17,000 people worldwide.
In 2010 Ineos Capital – the firm’s parent company – moved its headquarters and tax residence from the UK to Lausanne.
That year Ineos also became a sponsor of Lausanne ice hockey club.
Pensions: Automatic saving to start at 18 under new pla…
Image copyright Getty Images Image caption Waiters are among the workers who have been enrolledRead More
Hunter Harrison: CSX railway boss dies
Image copyright Reuters Image caption Hunter Harrison took up the top job at CSX inRead More