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American Investor Linked To Newcastle Last Year Talks About His Pursuit Of A European Club



Before the Saudi-backed consortium reached an agreement with Mike Ashley to buy Newcastle United, there was GACP Sports, among a few other potential owners being linked with an interest. GACP is run by American Joseph DaGrosa, who sold his stake in Bordeaux late in 2019.

DaGrosa did meet with Ashley but reportedly came nowhere near the asking price for Newcastle. Both sides eventually moved on with Newcastle getting massively shafted by the Premier League over the Saudi-backed consortium.

DaGrosa recently failed in an attempt to buy out Southampton which has brought his name back in links with revamping a move for Newcastle. There’s been nothing definitive that he’s planning to do that.

All signs indicate that Mike Ashley remains committed to seeing the deal with the Amanda Stavely-led consortium through to its full conclusion before entertaining other offers. That has taken time as legal proceedings so often do.

The Chronicle has found some interesting comments from DaGrosa on his pursuit to buy a European club. Speaking to Off The Pitch, the American said the following about the potential issue with investing in a Premier League club:

“If we wanted to write a cheque for what sellers are looking for right now, we could close a deal today if we wanted to.

“That’s not the issue at all. We pride ourselves on being disciplined investors. We’re not looking for a fire sale price on clubs.

“We thought in the EPL (English Premier League) for instance we’d see a tendency in the second half of the season, certainly start to return to some semblance of normalcy. That hasn’t happened.”

This could become a concern for any other potential suitors for Newcastle United if Mike Ashley fails in his legal case. The Premier League is nowhere near a ‘semblance of normalcy’ with fans likely not allowed into stadiums for at least the remainder of the year. That uncertainty could scare off groups that would otherwise be interested.

This issue is compounded by another point that DaGrosa made. That time is of the essence as new owners prefer to be in place before the summer transfer window opens. Here is what he said about getting deals done before the summer:

“No one wants to be negotiating or closing during the summer trading window.

“So, logic would suggest we would want to get a deal done, and the seller would want to get a deal done, prior to going into the summer trading window because that radically affects the finances of clubs one way or the other.

“For a clean break and a clean start certainly a deal needs to be done before the summer transfer window.

“Hopefully, we will get something across the goal line. But one thing I’ve learned in my going on a 30-year career in private equity is if you get that first decision wrong, you’re stuck for a very long time with hundreds and hundreds of other decisions to make up for that first bad decision.”

These comments would tend to rule out another move for Newcastle if that was even in his thinking. DaGrosa is not going to pay Ashley’s asking price, though he seems to indicate that he has the funds to do so saying the following:

“I would say we’ve got very strong financial support and for the target size of clubs we are looking at we are very comfortable that we have the capital we need to get the acquisitions done and to adequately capitalize them post-closure,”

The uncertainty with Covid and Ashley being tied up in his legal fight against the EPLrepresent barriers for DaGrosa to become the one to take Newcastle off of Ashley’s hands. Hopefully, Ashley can win his legal battle and we can stave off relegation. Dare to dream.

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260 comments so far

  • Tsunki

    Feb 17, 2021 at 10:44 AM

    Comment #1

    Sadly there’s always a reason why it can’t happen right now, maybe next month. Jam tomorrow.

    8
  • DrGloom

    Feb 17, 2021 at 10:47 AM

    Comment #2

    Munster – my sons friend is a hardcore fulham fan and as you say , they believe they can definitely overtake Newcastle and see us as the team to join west brom and Sheff Utd as the relegation teams – hard to argue at the minute , will be even harder if they win tonight

    7
  • Jail for Ashley

    Feb 17, 2021 at 10:51 AM

    Comment #3

    lesh,
    Out of interest why did you ask The Tin Man about the nightshift then decide for him on the decision he’d made before he knew anything about the question???

    6
  • Not another deJong

    Feb 17, 2021 at 10:54 AM

    Comment #4

    “”Although detractors of the time tried to belittle the word “normalcy” as a neologism as well as a malapropism, saying that it was poorly coined by Harding (as opposed to the more accepted term normality), there was contemporaneous discussion and evidence that normalcy had been listed in dictionaries as far back as 1857″”

    1
  • Carson80

    Feb 17, 2021 at 10:54 AM

    Comment #5

    Think fans will be back in for the start of next season, they were saying yesterday they were wanting all adults in the UK to be full vaccinated by August. Also saying a slow and irreversible path out of lock down starts on March 8th, fingers and toes crossed then.

    3
  • Jail for Ashley

    Feb 17, 2021 at 10:56 AM

    Comment #6

    I’m really not up to date on the season ticket renewals/refunds, tier 1 refund who just wants their money back???, if you’re a tier 2 refund who’s keep paying while waiting for your old refund or tier 3 who just wants to let Mikey keep all your money. So really not sure when you’ll be asked if you want to renew for next season. I think us non season ticket holders will become aware when stories of American investors and PIF still being interested if we’re relegated start getting pedalled by the Chronicle and Shields Gazette.

    3
  • Not another deJong

    Feb 17, 2021 at 10:57 AM

    Comment #7

    https://www.themag.co.uk/2021/02/must-see-premier-league-clubs-last-44-games-form-table-are-you-watching-steve-bruce-newcastle-united/

    Over 44 games (last season & this) Bruce has one point per match, which is relegation form…..no excuse.

    6
  • Jail for Ashley

    Feb 17, 2021 at 11:00 AM

    Comment #8

    Carson80,
    I’m not sure when things will get back to normal regarding the 1or 2 Metre rule. Can cinema’s, theatres etc remain sustainable at half capacity.

    1
  • Carson80

    Feb 17, 2021 at 11:01 AM

    Comment #9

    The season ticket fiasco will be sorted in the summer by our new owners, no way Ashley seen as refunding anyone their money once a c%&t always a c%#t in my opinion.

    11
  • Jail for Ashley

    Feb 17, 2021 at 11:01 AM

    Comment #10

    Nadj,
    Is one point per match just enough to keep you up by the skin of your teeth.

    2
  • Not another deJong

    Feb 17, 2021 at 11:02 AM

    Comment #11

    https://twitter.com/Other14The/status/1361990822640685064/photo/1

    James Rodriguez (Everton) creates only half the chances to score that Jack Grealish makes.

    0
  • Jail for Ashley

    Feb 17, 2021 at 11:02 AM

    Comment #12

    Carson80,
    That’s providing we have new owners.

    2
  • Not another deJong

    Feb 17, 2021 at 11:03 AM

    Comment #13

    Jail for Ashley

    Risky but obviously 40 points is better.

    1
  • hibbit

    Feb 17, 2021 at 11:03 AM

    Comment #14

    why wouldn’t fulham have the confidence to think they can catch us,
    like every one of us on here they can see how badly were playing and ill prepared and unorganized we are , add to that losing wilson and no cover,
    ya they’ll think can catch us

    8
  • Moonraker15

    Feb 17, 2021 at 11:03 AM

    Comment #15

    I suppose a draw isn’t a bad result for us tonight! Don’t want Burnley getting away from us although I do think they’re too good to go down!

    1
  • Carson80

    Feb 17, 2021 at 11:04 AM

    Comment #16

    Jail the scientists are saying with regards to cinemas we’ll have to all wear masks, bit of a bummer for popcorn sales though. In regards to them being half empty apart from the recent Star Wars and Avengers films you rarely see them packed out anyway.

    0
  • Not another deJong

    Feb 17, 2021 at 11:04 AM

    Comment #17

    Carson80 @9

    There are a few dyslexics on here ‘en all.

    0
  • WLtoon

    Feb 17, 2021 at 11:04 AM

    Comment #18

    Good morning all, i got confirmation from the Utilita Arena that the Who gig is cancelled in March, so if anyone on this blog has a ticket for the same gig then expect contact this week for your refund.

    Regarding the nightshift and what the conversation is about , does it makes any difference what the craic is if you are in the land of nod.
    I would have music and good banter ahead of playground bitchiness any night of the week, there are no rules on here which says what you can or can`t discuss

    9
  • Carson80

    Feb 17, 2021 at 11:09 AM

    Comment #19

    Very true Jail but it’s nice to have happy thoughts, just makes you feel worse thinking the opposite. Even it doesn’t happen in Cabbage Heeds words “we are where we are now” so no harm done.

    0
  • Jail for Ashley

    Feb 17, 2021 at 11:09 AM

    Comment #20

    WLtoon,
    Nobody has even mentioned the nightshift or what they talk about. For whatever reason lesh decided to pull The Tinman about it then decided for him that he didn’t agree with what he’d just said 😕

    2
  • Optimistic prime

    Feb 17, 2021 at 11:10 AM

    Comment #21

    Last game against Fulham, when we have to win to stay up, Bruce will be telling everyone how great Fulham are and how hard the game will be.

    Parker will tell his players we’ll beat these easy, there managers has them beaten for us.

    6
  • Jail for Ashley

    Feb 17, 2021 at 11:11 AM

    Comment #22

    Nadj,
    From that article.
    1.00 point on average per NUFC PL match gained.

    1.02 goals on average per NUFC PL match scored.

    1.70 goals on average per NUFC PL match conceded.

    This is what you get with Steve Bruce.

    Like he says, you really didn’t need hindsight.

    5
  • Moonraker15

    Feb 17, 2021 at 11:12 AM

    Comment #23

    Carson
    How confident are you that takeover is happening? I noticed you put positive post on yesterday but didn’t see the main text.

    2
  • wynsleap

    Feb 17, 2021 at 11:12 AM

    Comment #24

    Why are we giving this DaGrosa waste of space any oxygen of publicity? He has NO intention of buying our club. He knows it. We know it. Unfortunately The Chronic thinks he is worth giving column inches to. Embarrassing.

    9
  • Mad Frog Boom 22

    Feb 17, 2021 at 11:13 AM

    Comment #25

    Fakeover 14 – 0 Takeover

    5
  • Moonraker15

    Feb 17, 2021 at 11:14 AM

    Comment #26

    Carson
    If takeover happens I don’t think they will need to refund tickets and they will sell out for sure!

    1
  • cyprus

    Feb 17, 2021 at 11:14 AM

    Comment #27

    Key word in all these is “invest”. Such consortiums want to get out more than they put in. That’s what good investments do.

    They want to make a profit, that’s why they invest.

    Football is rarely an investment in that traditional sense. It’s more a rich person’s hobby, a jewel in the crown, a passion even.

    Like a yacht, say.

    So, if there’s a billionaire who fits this description, give us a call.

    If you need to bargain, you probably can’t afford us.

    No tyre kickers please.

    4
  • Jail for Ashley

    Feb 17, 2021 at 11:15 AM

    Comment #28

    Carson80,
    Of course, if you want to believe there’ll be a takeover in the summer you just keep happy thinking away. Don’t worry be happy. I hope there is a takeover very much, but until it happens I won’t be paying any to attention to what Miles Stamfordham, Liam Kennedy, Luke Edwards or Keith says. I don’t give a hoot what bread De Marcos is cooking or what pale ale he has on a Friday night either.

    4
  • Carson80

    Feb 17, 2021 at 11:16 AM

    Comment #30

    Moonraker I would say about 85% confident, I personally already think the Reuben brothers and Amanda are already part owners and this arbitration carry on is to allow the PIF to become our majority owner.

    2
  • hibbit

    Feb 17, 2021 at 11:16 AM

    Comment #31

    for what it’s worth, i think we’ll wake up one morning and it’ll be done,

    5
  • Optimistic prime

    Feb 17, 2021 at 11:17 AM

    Comment #32

    I’m sure there’s a blog for friends reunited, J R Hartley must have a fishing blog and im sure the Hitman and her will be on catch up.

    Very amusing people say they can post what they want, whilst moaning about what others post.

    4
  • Tsunki

    Feb 17, 2021 at 11:19 AM

    Comment #33

    No there’s no harm in the nightshift going off on their own track. But if it’s used as the yardstick for A NUFC blog then it’s off the mark. The bitching only starts when someone takes umbrage at someone else’s opinion and decides to go overboard. The night crew avoid all that by not talking about our pressing controversy, Newcastle United under Mike Ashley. You’re not telling me they are a special highbrow bunch on that night shift are you? From where I see it, its a shelter, a place of respite from this blog. And you can tell because some of the participants change entirely when they come on during the day time and get into it again. 🙂

    6
  • Optimistic prime

    Feb 17, 2021 at 11:20 AM

    Comment #34

    Dubai

    You about?

    What’s all this about the ruler of Dubai, kidnapping his wife and daughter?

    1
  • Carson80

    Feb 17, 2021 at 11:22 AM

    Comment #35

    Hibbit same here.

    0
  • Tsunki

    Feb 17, 2021 at 11:24 AM

    Comment #36

    I’m not naming any names but it does make me laugh how some individuals have the urge to somehow distance themselves from their own moderated behaviour by saying yes they had a minor part in problematic exchanges but really its someone else doing it – it’s like Nick Leeson saying he can’t help but feel partly responsible for Barings collapse 😀

    10
  • Optimistic prime

    Feb 17, 2021 at 11:25 AM

    Comment #37

    Just reading Almiron has 2 world Cup qualifiers in March..

    Could do without losing him for games

    2
  • lesh

    Feb 17, 2021 at 11:26 AM

    Comment #38

    Tsunki, Jail

    My nightshift related post (previous thread @460) should’ve been addressed to you and not Tinman who was clearly unaware of what I was getting at.

    And yes, I do know the difference between healthy discussion and debate and bickering.

    Do we assume that the nightshift is the new target for you two?

    When suggesting that the habituees of the nightshift might post on a different blog, it might be worth noting that The Wife occasionaly adds to conversations.

    15
  • lesh

    Feb 17, 2021 at 11:28 AM

    Comment #39

    Jail

    For the avoidance of doubt, my nightshift related post (previous thread @460) should’ve been addressed to Tsunki, not you.

    2
  • Tsunki

    Feb 17, 2021 at 11:30 AM

    Comment #40

    The problem now with Fulham is they see us with a target on our back. They don’t need to aim for mid table safety. They don’t need x number of points. They just have to win the run in on points that beat ours or equal point and GD (they are +3 on us) if necessary.

    We should be very worried. They don’t score many buy they concede a lot less than us, and comparing run in schedules, theirs is better than ours.

    2
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