On June 5th, the Bin Zayed Group famously set up a holding company at Companies House. The name of the new company was Monochrome Acquisitions Ltd and it had two registered directors: Sheikh Khaled bin Zayed al-Nahyan and Mihat Kidwai.
That was seemingly a massive move in the Dubai-based group’s takeover of Newcastle United. That company is still active but likely will never be used for it’s original intent as any takeover by the group looks very remote now.
The Shields Gazette have an exclusive report tonight as they have verified that GACP Sports have set up two new holding companies of their own. They are GACP Newcastle Management LLP established on September 27th and GACP Newcastle Partners LLP which was established on October 1, 2019.
Joseph DaGrosa– President of Bordeaux
The companies, per the report, are completely owned by GACP Sports which is the investment firm of billionaire Joseph DaGrosa. They are both registered in the state of Delaware in the United States.
One of the interesting bits of information in the Shields Gazette is that GACP formed two similar companies when they purchased Ligue 1 club Bordeaux last year. Joseph DaGrosa is now Bordeaux’s president.
We are definitely not getting our hopes up on this one after the destructive disappointed of the Monochrome Acquisitions Ltd situation this summer. However, it does show that there is genuine interest from GACP Sports. Whether they can secure the funds to complete a deal remains to be seen.