Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
GENEVA — MLS franchise Los Angeles FC has taken over storied Swiss club Grasshopper by buying a majority stake from its Chinese owner Jenny Wang. The deal was announced at a news conference in Zurich as 27-time Swiss champion Grasshopper became the latest American-backed club in European soccer. This takeover involves a club that was founded in 1886 being bought by one created in 2014. LAFC adds Grasshopper to European investments that include Austrian club Wacker Innsbruck. The deal ends Grasshopper's ties to Premier League club Wolverhampton, which is owned by Wang's billionaire husband Guo Guangchang.
