Sir Jim Ratcliffe's INEOS have taken the decision to part ways with Swiss club, FC Lausanne-Sport
Sir Jim Ratcliffe
Jim Ratcliffe's INEOS have put FC Lausanne-Sport up for sale
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Sir Jim Ratcliffe's INEOS has reportedly put Swiss club FC Lausanne-Sport up for sale, marking another significant move in the company's sporting portfolio. The British billionaire also holds a minority stake in Manchester United through INEOS and owns French Ligue 1 club OGC Nice, which has also been put up for sale.
The reported decision to sell Lausanne-Sport comes after INEOS abruptly ended its sponsorship agreements with New Zealand’s All Blacks rugby team and Tottenham Hotspur last year. INEOS purchased Lausanne-Sport in November 2017, just a year after moving its global headquarters away from the Swiss city, where it had been based from 2010 to 2016.
The Manchester United minority owner will now be hoping for a smoother and quicker exit from Lausanne-Sport than its ongoing efforts to part ways with French club OGC Nice. Ratcliffe has reportedly faced growing hostility from Nice supporters, who have long been unhappy with his ownership.
According to The Athletic, INEOS has been forced to significantly reduce its initial €250million (£209.5 million; $280.1m) asking price in an attempt to attract potential buyers. The report also claims that global consultancy firm Alvarez & Marsal has been appointed to oversee the sale of Lausanne-Sport and has reportedly distributed sales prospectuses to potential investors.
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Despite nearly a decade under INEOS ownership, Lausanne-Sport have qualified for European competition just once, even though securing a European spot is arguably more achievable in the Swiss league than in many of Europe's major competitions. The club has been described as an 'established top-flight contender' in a 12-team league historically dominated by just two sides, FC Basel and Young Boys.
Meanwhile, Lausanne-Sport's financial struggles are mounting, with losses projected to reach £5m this season. Those losses could increase further if the club fails to secure a replacement for INEOS' sponsorship, while its position at the bottom of the league table has only added to concerns.
Relegation this season would mark Lausanne-Sport's third drop from the top flight under INEOS ownership, although the club has also secured promotion twice during the same period. INEOS' failure to deliver sustained success at Lausanne-Sport has also fuelled wider criticism of its sporting investments, with similar concerns raised over its involvement at United.
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