January 19 – MLS club LAFC has completed the acquisition of a majority stake in Swiss club Grasshopper Zurich for an undisclosed fee.
LAFC has bought the stake of Chinese owner Jenny Wang. LAFC co-president Larry Freedman, who will join the Grasshopper board along with LAFC executive, Stacy Johns.
The Swiss club joins a gently growing LAFC portfolio. LAFC recently bought into Austria’s FC Wacker Innsbruck as well as setting up the joint venture Red&Gold Football with FC Bayern München to develop talent in South America and Africa in 2023.
That partnership has seen them take a majority ownership in Racing de Montevideo SAD, a first-division team in Uruguay, as well as establish a youth academy in Gambia.
“Grasshopper Club Zürich is an iconic brand in both Swiss and European football, with an incredible tradition of success and a foundation built on developing top-level talent. LAFC is honored to work together on this long-term partnership with the GC Zürich community and all the supporters as we begin our collaboration,” said Freedman.
Grasshopper is a former giant of Swiss and European football, having won 27 Swiss titles, but nothing since 2003. Three seasons ago grasshopper were playing in the Swiss second tier but are currently eight in the Swiss 12-team top flight.
The club covets a move back to its Hardturm stadium which it left in 2007. It currently shares the Letzigrund arena with local rival FC Zurich.
“We warmly welcome LAFC to GC Zürich,” Member of the GCZ Supervisory Board (Verwaltungsrat) András Gurovits said.
“In our initial talks and throughout all of our discussions, we feel confident that this long-term partnership will move this special Club in the right direction.”
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