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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

  • Jail for Ashley

    Feb 17, 2021 at 12:25 PM

    Comment #81

    Moonraker15,
    If they beat Burnley they then host a shockingly bad Sheff U with the bit between their teeth. I hope the new assistants assistant head coach bounce hasn’t worn off.

    0
  • WLtoon

    Feb 17, 2021 at 12:25 PM

    Comment #82

    Jail,

    Glad to hear you are back to work, shame you might be on nights when you go back, i find it hard to sleep through the day.

    0
  • hibbit

    Feb 17, 2021 at 12:26 PM

    Comment #83

    biggest problem we have with throw in’s, No body wants to receive the ball,
    we have no movement by our players, basically no coaching or thought going in to them, 🙁

    9
  • Just a fan

    Feb 17, 2021 at 12:26 PM

    Comment #84

    Essex
    Nocturnal verses diurnal.
    Diurnal.
    A word I have just discovered.

    1
  • DubaiMicky

    Feb 17, 2021 at 12:28 PM

    Comment #85

    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?

    Yes mate, just got up, I’m NY Mag’s manor at the moment near Detroit, hoping to meet with him next weekend to drown some sorrows.

    Re Princess yes it is true, I knew the real people involved in the “escape”, the ones who were mentioned are not the official people and are pretty much scamming the public (Tiina got a $500,000 fee for the “Escape” and is still milking it, Latifa’s lawyer is NOT David Haigh (who is a bankrupt, struck off, convicted fraudster in both UAE and UK).

    But the bare bones of the story is correct.

    2
  • Jail for Ashley

    Feb 17, 2021 at 12:31 PM

    Comment #86

    WLtoon,
    We were going to have to go back eventually they weren’t going to pay for us sitting at home forever, the only saving grace is that it’s broke this course up.

    1
  • lesh

    Feb 17, 2021 at 12:35 PM

    Comment #87

    Tsunki

    I suppose I must have imagined my occasionally posts during day shifts over the last 13 or so years I’ve been looking in on The Blog. Unless I’m mistaken, other nightshift posters have also contributed to the dayshift over the years.

    Your perception of others’ perceptions of the nightshift is something only you can reconcile. Why not look in and test the water.

    2
  • WLtoon

    Feb 17, 2021 at 12:37 PM

    Comment #88

    Jail,

    If nothing else you will be occupied now, out of the boredom and getting a full wage, or were you on full pay while you were off, doesn`t matter .
    Anyway if you are on nights and have some free time then why not show your face on the blog haha.

    2
  • Jail for Ashley

    Feb 17, 2021 at 12:37 PM

    Comment #89

    lesh,
    Hopefully I won’t see you tomorrow night 😀

    0
  • lesh

    Feb 17, 2021 at 12:38 PM

    Comment #90

    hibbit

    Coaching throw ins? Howay, a throw in’s no different from hoying the ball back over a backyard wall.

    1
  • Jail for Ashley

    Feb 17, 2021 at 12:39 PM

    Comment #92

    WLtoon,
    Not full pay, that would be class. Enough to make me not want to go back.

    1
  • Mund

    Feb 17, 2021 at 12:39 PM

    Comment #93

    Lesh

    Great recommendations last night mate but I have seen both but definitely worth a revisit especially Easy Ryder which is one of my faves. Top performances from the 3 Fonda, Nicholson and Hopper.

    4
  • WLtoon

    Feb 17, 2021 at 12:42 PM

    Comment #94

    I think Burnley will win tonight, or at the very least get a point.
    A draw will be ok for us, it will keep Burnley in close reach.
    Can`t see them going down mind, they are a really well organised team and Dyche knows what he is doing, unlike the numpty we have running the show.
    Burnley to win 2-1, lesser of the two evils kinda result, but hey , beggars can`t be choosers.

    2
  • Mund

    Feb 17, 2021 at 12:45 PM

    Comment #95

    Cuuuumonnn you Clarets!!!

    1
  • cleveleysbob

    Feb 17, 2021 at 12:45 PM

    Comment #96

    Question for the blog. NY Mag wants to buy his new granddaughter some NUFC kit without lining Ashley’s pockets, is there an online outlet that fits the bill??

    I’ve found a retro specialist place that I’ll tell him about later. (That’s if I dare stray onto the night shift) 🙂

    4
  • lochinvar

    Feb 17, 2021 at 12:46 PM

    Comment #97

    Season ticket refunds are just a joke.added complexity and confusion . Simple remedy is full refund for all of this season and start again for next, but hey that’s too honest for Ashleh who’s hoarding every penny for as long as he can.

    And suddenly DaGrossa is back on the Agenda and Karen Brady is having her say.

    Only conclusion is that they must all be dancing to Ashley’s tune . But why is anybody’s guess.

    3
  • Carson80

    Feb 17, 2021 at 12:46 PM

    Comment #98

    I like people posting music links, you get some good tunes on what you haven’t heard for awhile. Used to get a load of jokes posted on here by GeordieTom, Regan and Betty’s Swallocks, some of them were hilarious.

    5
  • WLtoon

    Feb 17, 2021 at 12:47 PM

    Comment #99

    Jail,

    Even on furlough i bet you have managed to save a few quid , i know i have.
    I don`t know what you do in your time off but i like to socialise and go places with wor lass but obviously haven`t been able to do that so have saved a bomb.
    I think it`s the only plus about the restrictions.

    2
  • Adamn_92

    Feb 17, 2021 at 12:48 PM

    Comment #100

    I’m hoping the likes of Wood and Barnes may be a bit too physical for Fulhams defence and Burnley can get some joy out of that. I think a draw is the most likely result.

    1
  • Adamn_92

    Feb 17, 2021 at 12:49 PM

    Comment #101

    If I was Parker i’d be suggesting either Wood or Barnes attack the far or near post, try to get a run on either Fulham full back as Aina and Robinson are both tiny in comparison.

    1
  • Jail for Ashley

    Feb 17, 2021 at 12:50 PM

    Comment #102

    WLtoon,
    Not furlough, the platform.are covering it.

    0
  • Jail for Ashley

    Feb 17, 2021 at 12:51 PM

    Comment #103

    cleveleysbob,
    There’s a Chinese site called D something, meant to be superb.

    1
  • lesh

    Feb 17, 2021 at 12:51 PM

    Comment #104

    Northumbrian

    Those stats are stark and frightening.

    There’s no doubt in my mind that Bruce, by his compliance with Ashley’s approach, has been complicit in the club’s current position. He can’t even claim he was wronged and seems to have accepted whatever they’ve put in front of him.

    He won’t, he says, walk away from a challenge but even he must see that the challenge he’s faced with is way beyond him.

    3
  • Jail for Ashley

    Feb 17, 2021 at 12:53 PM

    Comment #105

    I think Bruce has been the biggest Æsling patsy out of the lot of them, made worse by the fact he’s supposed to be one of us.

    4
  • TheTinman

    Feb 17, 2021 at 12:54 PM

    Comment #106

    Lesh, no offence taken 🙂

    Wooooah Tsitsipas slays Rafa to advance to the Australian Open Semi Finals. Coming from 2 sets down. Nobody comes back from 2 sets down to Rafa!

    Hopefully not long before all this COVID stuff is behind us and we can have fans enjoying these events… And Who concerts of course WLToon 😎

    2
  • Mund

    Feb 17, 2021 at 12:55 PM

    Comment #107

    If we can’t have craic and banter then what’s the point?

    As we all know it’s a depressing life being a Newcastle United fan and if we came on here just to talk about our team and our club all the time it would be a depressing place to be.

    Our fanbase is desperate beyond measure for something to be hopeful for as I don’t care what anybody says we are the best fans in the world and we have been put through an absolute turmoil of horrendous abuse from Ashley and the way he has stripped the identity of our club and then our own as we have forgotten what it’s like to be a proper football fan and it’s so sad.

    I for one am all up for a bit of craic and banter on here as times like this we need a bit of fun and craic to make us smile or laugh as the alternative isn’t worth thinking about.

    One day we will realise our hopes and dreams again and put this nightmare behind us but what it has done it’s made me a humble fan who doesn’t expect anything anymore other than just hope

    6
  • Adamn_92

    Feb 17, 2021 at 12:59 PM

    Comment #108

    Jail

    Is it DHgate you’re thinking of?

    0
  • lesh

    Feb 17, 2021 at 1:00 PM

    Comment #109

    cleveleysbob

    Look into the nightshift at your peril.

    😉

    2
  • lesh

    Feb 17, 2021 at 1:02 PM

    Comment #110

    Tinman

    Any mention of R on the dayshift is strictly verboten.

    😉

    2
  • TheTinman

    Feb 17, 2021 at 1:04 PM

    Comment #111

    This is someone I used to go to school with. I haven’t spoken to him for a number of years, but he is an honourable chap. https://www.ebay.co.uk/usr/nufc4sale

    1
  • north east lincs toon

    Feb 17, 2021 at 1:05 PM

    Comment #112

    I would rather see a Burnley win later if we’re stopping up it’s 17th no higher

    1
  • TheTinman

    Feb 17, 2021 at 1:07 PM

    Comment #113

    He just bought 1998 FA Cup Final Alan Shearer shirt. No idea what he paid for it, but I guess it’s not for sale!

    1
  • lesh

    Feb 17, 2021 at 1:07 PM

    Comment #114

    Tsitsipas slays Rafa to advance to…

    For Rafa, read Sisyphus?

    0
  • TheTinman

    Feb 17, 2021 at 1:08 PM

    Comment #115

    north east lincs, 100%, I think everybody would agree we have to cheer against Fulham now no matter who they play.

    0
  • WLtoon

    Feb 17, 2021 at 1:08 PM

    Comment #116

    Tinman,

    Gutted i am, never mind, i`m not the only one

    0
  • TheTinman

    Feb 17, 2021 at 1:14 PM

    Comment #117

    Hopefully the performers and the fans will enjoy the moment even more WL

    0
  • lesh

    Feb 17, 2021 at 1:15 PM

    Comment #118

    Mund

    Your post about the craic reminded me – Tsunki, take note – that at the time the takeover was looking odds on to happen, the nightshift topic was mainly that along with anticipation, hope and dreams. How circumstances impact on mood.

    2
  • WLtoon

    Feb 17, 2021 at 1:20 PM

    Comment #119

    Tinman,

    A takeover announcement under no restrictions would be an awesome site in the Toon. To say it would be jumping would be an understatement.

    2
  • Carson80

    Feb 17, 2021 at 1:20 PM

    Comment #120

    Here here Mund. If it was just talk about our team then the blog would slowly die as sadly there ain’t a lot to talk about.

    4


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