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

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

INEOS director David Thompson says he is targeting a return to European club competition for the club within four years.

Lausanne, coached by former Switzerland midfielder Fabio Celestini, are sixth in the 10-team Swiss Super League and last played in the Europa League in 2010 as a second-tier club.

Thompson, who is set to become CEO, says Lausanne aim to add a technical director and up to four experienced players, and work with youth academies in Botswana and Namibia.

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

With headquarters in nearby Rolle, INEOS is privately owned by British executives with annual sales in petrochemicals of £30.47 billion.