Newsletter

Get your daily update and weekly newsletter by signing up today!

News

GACP Sports confirm now in talks with Mike Ashley to buy Newcastle United

9 months ago
Share

GACP Sports CEO and Chairman Joseph DaGrosa, has confirmed in an interview in the States, that he is in talks with Mike Ashley to buy Newcastle United.

DaGrosa says that talks with Mike Ashley have been via the NUFC owner’s ‘top representative’ and he’s described as ‘very positive’ these talks to buy Newcastle United.

The GACP Sports CEO states that the talks are still going on and declares: ‘I would say Mike Ashley and his team are a lot easier and a lot friendlier and business savvy than anyone gives them credit for.’

However, Joseph DaGrosa adds…’I’m not sure we’re going to reach an agreement but that’s certainly not because of either side’s intractability or unwillingness to move forward.’

I have never been convinced that there is any chance of this lot buying Newcastle United.

The local north east newspapers have repeatedly pushed the possibility over this last year ever since their relationship with Peter Kenyon was made public.

Journalists here keep referring to DaGrosa as a billionaire who could potentially buy Newcastle United himself but that looks like pure fantasy.

It is very very unlikely that he hs the funds to buy NUFC himself, never mind being a billionaire.

The connection with Peter Kenyon saw them trying to raise money from investors to buy the club, not from their own pockets, going as low as asking people to invest from as little as £1m and then of course earlier this year we saw their laughable brochure made public that they had sent to potential investors, which resembled a failed school project rather than something seriously trying to produce the investment needed.

Giving an interview like this one just makes it look one of two things.

Getting their name out there to help stimulate investment in their plans to buy a football club(s), without the permission of Mike Ashley and his people.

Or, doing the interview with Ashley’s permission to make it look like he really is trying to sell the club now.

GACP Sports played a part in the purchase of Bordeaux in November 2018 but that purchase price was only around £75m and their stake in the club was 10% at very most, though other reports claimed as low as 6%. At the very most worth £7.5m. Indeed, it was also reported that the small minority stake wasn’t even put up by GACP Sports, instead them getting it as payment for their part in helping to buy Bordeaux and run it this past year.

DaGrosa and his people crave publicity and had plenty to say about how they were intending to try and compete with PSG but Bordeaux fans in the two transfer windows they have been in charge have actually seen a net £50m profit! With £75m banked from selling players and only £25m spent on signings this past year.

As always, if Mike Ashley put the club genuinely up for sale at a market price then it would sell. The vast majority of major clubs having changed hands since Ashley claimed to put Newcastle first up for sale over 11 years ago, NUFC would have sold along with the rest of them if he genuinely wanted to sell.

NBC Sports report  Joseph DaGrosa phone interview with Pro Soccer Talk:

“I can certainly confirm interest.

“I will confirm that I have had conversations with Mike Ashley’s top representative.

“I would describe those conversations as very positive.

I would say Mike Ashley and his team are a lot easier and a lot friendlier and business savvy than anyone gives them credit for. We’re still talking.

“I’m not sure we’re going to reach an agreement but that’s certainly not because of either side’s intractability or unwillingness to move forward.

“As we publicly announced (after selling small minority stake in Bordeaux to King Street), it was really based on irreconcilable differences with the management and operations of the club.

“We thought it was in the best interest of the club and the fans to part ways.

“Both sides, GACP and King Street recognised that having that much uncertainty as to how the club was going to be run going forward wasn’t in anyone’s interest, so we decided that we would do our best to part ways amicably, which we’ve done, and I certainly wish the team nothing but success going forward.”

“In terms of our other plans, we’ve maintained all along we want to be players in sports, particularly soccer, and we’re looking not only in Europe but in South America right now.

“Negotiations are going on right now with a couple of clubs and I think the best is yet to come for GACP Sports.”

Share

If you would like to feature on The Mag, submit your article to [email protected]

Have your say

© 2020 The Mag. All Rights Reserved. Design & Build by Mediaworks