US investor aims to capitalise on "buyer's market" in European club acquisitions venture
12 June 2020
GACP Sports' Joseph DaGrosa has up to €1 billion to spend to create a City Football Group-style network of primarily European clubs.
He believes it's in UEFA's best interest to ease restrictions limiting clubs who share owners from competing against each other, in order to create a better environment for investment.
Conversations he has had with club shareholders leads him to believe he can acquire European clubs for a discount of up to 40 per cent due to the coronavirus pandemic.
DaGrosa is in some cases talking to clubs' debt holders instead of their owners about purchasing shares, a sign of the financial trouble some are in.
It wasn't easy setting up an interview with Joseph DaGrosa, chairman of Florida-based private equity firm GACP Sports. It is easy, however, to understand why. The American businessman and investor plans to create a group of clubs and academies inspired by the model of City Football Group (CFG) in an ambitious venture on the European football stage.
This is a great time to be playing offense which means you want to have a strong enough balance sheet to be able to buy right
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