ZURICH (AP) 鈥� The stellar ownership group of Major League Soccer team LAFC sold its majority stake in struggling Swiss club Grasshopper after three straight seasons fighting relegation.
The record 27-time Swiss champion from Zurich was sold to multi-club ownership operation Bridge Football Group, which also has teams in lower-tier divisions in Italy and the Netherlands.
The sale was described by LAFC as a 鈥渟trategic realignment of its international development network鈥� which will now focus on Austrian team Wacker Innsbruck, the club said in
Grasshopper in April urging a sale by LAFC, whose owners includes entertainment executives Peter Guber and Mark Shapiro, Will Ferrell and Magic Johnson.
The club in FIFA鈥檚 home city does not own its Letzigrund stadium, a storied track and field venue which is shared with FC Zurich. Grasshopper has struggled in the 12-team Swiss league since winning its last title 23 years ago, and its most recent Swiss Cup win was 13 years ago.
LAFC from the Chinese owners of Wolverhampton, which was relegated from the English Premier League in May.
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