Pro-Brexit British billionaire buys Swiss football club Lausanne

Pro-Brexit British billionaire buys Swiss football club Lausanne”

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

Ineos snapped up motorcycle wear firm Belstaff last month after it was put up for sale by JAB Holdings. Club president Alain Joseph has been seeking a buyer for several months.

The group raised eyebrows with the unexpected purchase of one of Europe's oldest football clubs, FC Lausanne-Sport, which it says "aligns with Ineos' continuing investment in youth and community sports in Lausanne and Canton Vaud".

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

Lausanne returned to the Swiss top flight last season after being relegated to the country's second division in 2010.

The company said it backs the club's manager, Fabio Celestini, and his coaching staff. FC Lausanne-Sport is now in sixth place.

Lausanne will move into a new, 12,000-capacity stadium in 2019.

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

Ineos employs 17,000 staff globally and boasted revenues of almost £20bn in 2016.

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

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