Billionaire who tried to take over Newcastle planning CFG-inspired Premier League club purchase

1 May 2020

Joseph DaGrosa
Photo: PA Images "From a macro point of view, we believe football over the long term is a great investment," Joseph DaGrosa told Forbes.

American investor Joseph DaGrosa and business partner Hugo Varela intend to create a global group of clubs and academies similar to that of City Football Group.

DaGrosa of GACP Sports last year was involved with a bid to purchase Newcastle United.

Emil Gjerding Nielson nielson@offthepitch.com

Billionaire American investor Joseph DaGrosa is planning to create a global group of clubs and academies similar to that of City Football Group (CFG), according to Forbes, along with business partner Hugo Varela.

DaGrosa, who last year was involved with Peter Kenyon's Newcastle United bid that never came to fruition, is the chairman of Florida-based GACP Sports (a subsidiary of the GACP investment fund, where DaGrosa is president) and believes Premier League teams could be purchased at a 50-70 per cent discount due to the coronavirus pandemic.

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