Joey DaGrosa – the man who held ‘constructive discussions’ with Mike Ashley over deal to buy NUFC last year – is now edging closer to securing the somewhat controversial £200 million takeover of Southampton.
The talks are believed to be in a period of exclusivity and Duncan Castle of the Sunday Times has claimed that they are ‘progressing well’.
DaGrosa, chairman of GACP Sports Capital group, claimed in 2019 that he had held talks with Mike Ashley’s chief advisor Justin Barnes – but any talk of that takeover thankfully soon fizzled out before we could have our hearts broken.
He later stated that he felt he had ‘dodged a bullet’ by not investing NUFC – and has quickly turned his eye to one of our Premier League rivals in Southampton.
Here’s what Duncan Castle had to say about the deal on his podcast:
“(It has) progressed to the stage where the Premier League are looking at the financial plans and doing their assessments; the owners and directors test – something that is of great relevance after what happened to Newcastle United.”
“They think that can emulate the City Group model”.
But I think it’s us who’ve done the bullet dodging – and here’s why.
DaGrosa has been accused of ‘asset stripping’ his former club, Ligue 1 Bordeaux – before he sold his stake. Furthermore, the finances of the Southampton deal are already being questioned.
According to The Chronicle, the club are already £70 million in debt and DaGrosa’s bid also depends on ‘significant borrowing’.
It would be outrageous if this deal was to breeze through the owners and directors test – considering how our situation was treat by the Premier League.