MLS: Los Angeles FC becomes a majority shareholder (96.5%) of Grasshopper Club Zürich (Swiss D1)

MLS franchise Los Angeles FC has become the majority shareholder in Grasshopper Club Zürich (Credit Suisse Super League) by buying out the 96.5% stake held by Chinese group Fosun, announced the two parties on 18/01/2024. The transaction has been approved by the Swiss Football League Licensing Committee.

"LAFC is committed to working with fans and partners to stabilize the club on and off the pitch. LAFC will support GFAG with its expertise and resources throughout the process. LAFC's managing director of Europe, Harald Gärtner (recruited in January 2024), will support the management team for the remainder of the season," explained the American franchise.

"The partnership with GC Zürich aligns with LAFC's global vision of building winning teams by providing unique platforms for the development of top young talent," explained Los Angeles FC, which became a minority shareholder of FC Wacker Innsbruck (Austrian 4^th division) in April 2023, one month after creating the Red&Gold Football joint venture in collaboration with FC Bayern Munich (Bundesliga).

Red&Gold Football became the…