Revealed! Was this the hint Newcastle United-linked billionaire was about to enter English football?
General American Capital Partners founder Joseph DaGrosa has discussed his want to expand investment into European football – and could his business dealings offer an insight into whether the Premier League will be his next destination?
DaGrosa, of GACP Sports, has been linked with partnering Peter Kenyon, as well as other investors, in taking Newcastle United off Mike Ashley’s hands.
A fortnight ago a brochure was circulated to the press detailing the club’s plans as well as highlighting a want for further investment to get any deal over the line.
While the release has been treated with some scepticism in the halls of power at St James’s Park, two new companies were set up over in the US last week as vehicles for a possible takeover.
Of course, we have been here before – most recently with Monochrome Acquisition Ltd and the Bin Zayed Group from the UAE – but the arrival of both ‘GACP Newcastle Management LLP’ and ‘GACP Newcastle Partners LLP’ are a clear sign of intention, if not progress.
The former was launched on September 27, 2019 with the latter set-up on October 1, 2019. Both companies are owned 100% by GACP Sports Partners LLC and have been registered in Delaware.
What is next awaited is the formation of a company registered in the UK - called ‘Newcastle Acquisition Partners Ltd’. This is yet to be registered.
But some actions of Joseph DaGrosa Jnr and Davie Neithardt on Companies House in the last few years could give some insight into their Premier League intentions.
On November 8, 2017, the pair were registered as directors in GACP Futbol Group Ltd. The company address was 3rd Floor, 1 Ashley Road, Altrincham, Cheshire, WA14 2DT.
This company was then dissolved on April 9, 2019, only a few months before Kenyon paired with GACP Sports to circulate a brochure in order to entice investment to put together a takeover bid of United.
Could this be an indicator of their want to invest in the Premier League, or was it a vehicle for their Bordeaux takeover, where DaGrosa is now chairman?
At this stage, it is understood Ashley is yet to receive a solid bid from Kenyon & Co.