INEOS Initiates Sale of Swiss Club Lausanne-Sport
Sir Jim Ratcliffe's INEOS Group has put Swiss Super League club Lausanne-Sport up for sale, appointing global consultancy firm Alvarez & Marsal to oversee the process. The move, first reported by The Athletic, signals a further retreat from the British billionaire's sprawling sporting investments and comes amid deepening turmoil at Manchester United, where Ratcliffe holds a minority stake and controls football operations.
According to sources, Alvarez & Marsal has circulated a five-page prospectus titled "Project Striker" to potential investors. The document markets Lausanne as "an established top-flight contender" in a 12-team league with "only two historically dominant clubs" and highlights an "asset-light model" with "a unique infrastructure set-up"—advantages that could appeal to buyers seeking a relatively inexpensive entry point into European football. INEOS hopes to complete the sale more swiftly than its ongoing efforts to offload French club Nice, which have reportedly stalled.
Financial Struggles and Relegation Risk
Lausanne's financial position could complicate negotiations. The club is reportedly facing annual losses approaching £5 million this season and currently sits bottom of the Swiss Super League after 11 games, raising the prospect of another relegation under INEOS ownership. Since Ratcliffe's company acquired the club in November 2017, Lausanne has been relegated three times and promoted most recently three years ago. They finished fifth in the 2023/24 season but regressed to ninth last term and have won just one league match this campaign.
Context: A Broader Sporting Retreat
The sale of Lausanne is the latest sign that INEOS is scaling back its once-ambitious sporting portfolio. Ratcliffe's group also owns OGC Nice outright and has been exploring a sale of the Ligue 1 side since May last year through New York-based investment bank Lazard. Attempts to secure a buyer for Nice have reportedly encountered difficulties, forcing INEOS to slash its asking price. The company has also abruptly pulled out of sponsorship deals with the All Blacks and Tottenham Hotspur and endured an acrimonious split with America's Cup partner Sir Ben Ainslie.
Manchester United in Crisis
The timing of the Lausanne sale is particularly awkward for Ratcliffe, coming less than 24 hours after Manchester United suffered a damaging 3-0 home defeat to Bournemouth at Old Trafford. The result left United 16th in the Premier League with just seven points from eight matches, having already exited the League Cup and lost two of their opening three Champions League fixtures. Manager Michael Carrick, appointed permanently just five months ago, is under intense scrutiny and reportedly set for imminent dismissal—he would be the third United boss sacked in just over two-and-a-half years since INEOS took control of football operations.
During the Bournemouth defeat, United fans serenaded INEOS with chants of "sell United and f*** off home," underlining the growing disillusionment with Ratcliffe's regime. The British billionaire acquired an initial 27.7 percent stake in United in 2023, later increasing his holding to almost 29 percent, but his tenure has failed to produce the anticipated sporting transformation. The club's decline has intensified scrutiny of the Glazer family's decision to delegate football operations to INEOS, with reports suggesting the Glazers are unhappy with Ratcliffe's leadership.
Perspective: What the Sale Means for INEOS and United
The Lausanne sale raises questions about INEOS's long-term commitment to its sporting ventures and whether Ratcliffe might eventually walk away from Old Trafford. The prospectus's emphasis on European qualification opportunities and low infrastructure costs suggests INEOS is positioning Lausanne as an attractive proposition for investors seeking a foothold in Swiss football, but the club's precarious league position and financial losses could deter buyers.
For Manchester United supporters, the sale of a peripheral asset may provide little comfort. The club's on-field struggles have overshadowed Ratcliffe's broader sporting empire, and the decision to offload Lausanne—while retaining control at Old Trafford—could be read as a signal that INEOS is prioritising its most valuable asset. Yet with United languishing near the relegation zone and fan anger mounting, the pressure on Ratcliffe to deliver results at Old Trafford has never been greater. Whether the Lausanne sale marks the beginning of a wider retreat or a strategic refocusing remains to be seen, but for now, INEOS's sporting ambitions appear to be contracting rather than expanding.
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