Would-be Newcastle owner sells stake in French club

17 December 2019

Bordeaux
Photo: Getty Images In November 2018, Joseph DaGrosa finalised a $114 million deal to buy FC Girondins de Bordeaux. Now his investment fund has sold stake again.

The investment fund GACP, reported in October to be working on acquiring a stake in Newcastle, has sold its minority stake in Girondins de Bordeaux.

Capital fund King Street is now the sole owner of the French club.

Emil Gjerding Nielson nielson@offthepitch.com

Would-be Newcastle owner, the American investment fund GACP, has sold its minority stake in the French club Girondins De Bordeaux, meaning the British capital fund King Street is now the sole owner of the club.

In October, it was reported the American billionaire Joseph DaGrosa and GACP Sports (a subsidiary of the GACP investment fund, where DaGrosa is president) had progressed in a bid to take over Newcastle United. 

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