There is a new report that Bordeaux’s chairman Joseph DaGrosa could soon be bought out of his 13.6% share in the Ligue 1 club.
DaGrosa and his American based GACP Sports have been in the news over the past few months as they are reportedly spearheading a move along with Peter Kenyon to purchase Newcastle United.
The Shields Gazette have cited an outlet in France that says that Bordeaux’s majority shareholder, King Street, are considering buying out GACP in order to fund new investments.
We are not sure how much that would be for DaGrosa and GACP Sports, but it could prove somewhat beneficial if they are indeed interested in purchasing Newcastle United.
As initially reported in the Shields Gazette in October, GACP Sports have set up holding companies that match the brochure that was leaked when their interest was first broken.
While we don’t doubt that the GACP Sports and Peter Kenyon are very interested in buying Newcastle, the funds received from any Bordeaux deal would likely be only a small amount of what it would take to buy Newcastle.
However, it still gives us a sliver of hope that a deal could be in the works though we have our doubts as to Mike Ashley’s true intentions.
Joseph DaGrosa seems like he would be a significant improvement at Newcastle, and he would likely be thrilled if he could ever get a deal over the line. We’ll have to see what transpires with Bordeaux as he’s only been there a short time, and there’s no mention of what his reaction would be if forced out by King Street.
DaGrosa and his group completed the purchase of Bordeaux just over a year ago in the fall of 2018. He’s been an excellent spokesman for the club as he’s given numerous interviews and seems to believe that owning a club is an excellent investment.
A report in Forbes in July published the following comments from the New York-born billionaire.
“It turns out that sports as an investment are actually a pretty good investment. A lot of people think that it is a vanity investment, and in some respects, that is true because a lot of individuals own teams.
“But actually, as an asset sub-class, sports has done remarkably well over the past thirty years. And if you start thinking prospectively, which sports are likely to do well over the next 10, 20, 30 years, soccer has massive potential.”
If DaGrosa is bought out at Bordeaux, we suspect he would be itching to get back involved in another investment opportunity. He went through a long and arduous process before making the breakthrough with Bordeaux. So he is likely willing to put up with the tribulations of trying to buy Newcastle.
This is what DaGrosa had to say in the Guardian soon after the Bordeaux takeover was completed:
“Before the acquisition, we had a rocky road. We didn’t just need a willing seller, but a willing city to invite us in and let us come into their community. Fortunately, I had the pleasure of meeting with many members of the Bordeaux City Council.
“I told them our view that Bordeaux is a wonderful team and a wonderful city, and we want to create value with both of them for the benefit of everyone. They were skeptical, but that’s understandable. They don’t know who we are.”
Well, he’ll have a very willing city at Newcastle if he can ever get close to sealing a deal with Ashley. However, the prospects still seem quite dim of that happening. But we can always hold out a bit of hope.