US investor aims to capitalise on "buyer's market" in European club acquisitions venture

12 June 2020

JD
Photo: PA Images "If you're an owner, particularly an individual with multiple business interests, you're looking at the club as one of multiple assets and you're deciding which assets will create value for you and will not use up capital over the next two or three years," Joseph DaGrosa said.

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.

Emil Gjerding Nielson nielson@offthepitch.com

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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