- Associated Press - Monday, November 13, 2017

LAUSANNE, Switzerland (AP) - British-owned multinational chemical firm INEOS has agreed to buy Swiss soccer club Lausanne-Sport.

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

Lausanne, coached by former Switzerland midfielder Fabio Celestini, is sixth in the 10-team Swiss league. It last played in the Europa League in 2010 as a second-division club.

Thompson, who is set to become CEO, says the club aims 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 $40 billion.

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