An American owner linked with a takeover at Newcastle United now suddenly has time, and plenty of cash available.
Bordeaux announced that majority owner King Street Capital Management had bought out the stake of American Joe DaGrosa and his group, General American Capital Partners. DaGrosa had been the president of Bordeaux since helping purchase the club in 2018 through October 2019, but after weeks of rumors for a potential Newcastle purchase, DaGrosa has been bought out. Frederic Longuepee, who was elected club president in October, was named President and CEO by King Street Capital Management on Monday.
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According to reports in France, there were tensions between King Street and DaGrosa on how much the club would spend to improve the squad, which is currently skewed very young and as such, is in seventh place in Ligue 1, outside the European places.
On the plus side, now there should be plenty of time, and rumors, of conversations between DaGrosa and Peter Kenyon, who is reportedly leading negotiations between Newcastle owner Mike Ashley and potential buyers.
Of course, Newcastle has been reportedly on the verge of gaining new ownership around this time in each of the last few years, only for the deals to fall through at the last minute. It’s safe to say that this is one to watch, but it’s no guarantee.
Should DaGrosa purchase Newcastle, he’d be the latest American to get into English soccer ownership. Americans currently have majority ownership of Liverpool, Manchester United, and Arsenal in the Premier League.