GACP Sports and Joseph DaGrosa remain locked in takeover talks amid Newcastle United interest

GACP Sports remain locked in talks over their shareholding in French side Bordeaux – according to reports.

Wednesday, 4th December 2019, 9:34 am
Updated Wednesday, 4th December 2019, 9:35 am
Joseph DaGrosa

Several French outlets have reported that King Street Capital – who own a majority share in the Ligue 1 outfit – are in negotiations with GACP over their 13% stake in the side.

GACP are believed to be willing to sell their shareholding in the club in order to finance further investments, but 20Minutes.Fr claim that the two parties remain locked in discussions over a potential takeover by King Street.

Both sides are believed to be keen on finalising a deal, though, after fan anger at Bordeuax mounted despite a 6-0 win over Nimes on Wednesday evening.

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Fans halted the game in the 11th minute to protest against president Frédéric Longuépée and King Street – who insisted he is not resigning and reiterated the group’s commitment to the club.

"It's a sad situation for the club,” said Longuépée.

“This is unacceptable and it is not at all the image that we want to give football in Bordeaux.

“As you know, King Street, the majority shareholder of the club, is engaged for a long time and I would like to confirm to everyone that I will not resign, I never intended. "

GACP Sports, who are ran by billionaire Joseph DaGrosa, were thought to be interested in a takeover of Newcastle United alongside Peter Kenyon.

The group formed three companies in the USA as they laid takeover groundwork, but talks have not progressed since.