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American Takeover Bid For Saints
Thursday, 10th Sep 2020 23:40

Saints have reportedly entered into a period of exclusive negotiations with an American based group for the sale of Gao Jisheng's share in the club.

The Mail online is reporting that Former Bordeaux owner Joseph DaGrosa is looking to buy Southampton, the American has entered into a period of exclusive negotiations with the Saints.

He had previously been interested in buying Newcastle United in 2019 and it is said that should the takeover prove successful, Saints would likely raid the transfer market.

Sportsmail reports that they understand the American has entered into a period of exclusive negotiations with Southampton owner Gao Jisheng, who put the club up for sale earlier this year due to the increasing difficulty of taking money out of China.

DaGrosa spoke to Newcastle owner Mike Ashley about a takeover last year after his private equity company General American Capital Partners (GACP) sold their stake in Ligue 1 Bordeaux, but the talks did not lead to a formal offer.

The report continues

DaGrosa is convinced that Southampton and several other clubs are undervalued due to the market overcorrecting amid the pandemic, a theory that GACP also apply to players.

If the takeover is successful, Southampton would see an influx of new signings.

DaGrosa believes that there are bargains to be had because few clubs are recruiting due to concerns over falling income in the absence of gate receipts.

Southampton suffered another setback this summer when a dispute with shirt sponsors LD Sports, a Chinese entertainment and marketing company, led them to cancel the contract.

The club are taking legal action against LD Sports, who have been replaced by another sponsor, betting company Sportsbet.io.

Southampton declined to comment.

This is in line with information we became aware of around 6 weeks ago that an American bid was in the offing, although DaGrossa's name was not mentioned,

The native New Yorker is 56 and has wanted to get into Premier League football for some time, hence the Newcastle United bid, it will be interesting to see how things pan out in the next few weeks and if DaGrosa wishes to invest in this transfer window as the Mail suggests then that could indicate that the takeover is advanced and the deal could be done before the deadline in 3 weeks time.

Photo: Action Images



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NYC_Saint added 00:55 - Sep 11
Real supposedly received a bid from an unnamed English team for Bale today too...
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NYC_Saint added 01:35 - Sep 11
A flippant comment above, apologies. However RH led saints to an incredible post lockdown performance which surely would have pricked owners’ ears up everywhere especially with saints record of recent managers in MP and RK linked (and in RK’s case getting) some of the top jobs in the world. For him to be in a rich run of results and commit to Saints hopefully means there’s some runway in this.
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Crispinmumbles added 02:26 - Sep 11
No, non, no! We don't want to swap an absentee Chinese Criminal for a Septic, scumbag, capital investor. Go buy a Socher Team!
-6

WestSussexSaint added 08:15 - Sep 11
The concern for me in this is the mention of a private equity firm. These companies are only in business to make money for their investors and while it might allow Saints to overcome the current problems with Gao I think the promise of splashing the cash is a) highly unlikely and b) would go against the Southampton Way model.

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highfield49 added 08:39 - Sep 11
Whether we like it or not I presume Gao can sell to whoever he wishes providing they meet the current ownership rules? Hopefully not out of the frying pan into the fire if this rumour has any substance. Does the board have any influence at all on negotiations because I have to admit that I'm concerned that private equity companies are a very mixed bunch of speculators.
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IanRC added 09:10 - Sep 11
It is the Mail so only a 20% chance there is any truth in it, a gutter rag.
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Saidou added 09:45 - Sep 11
No American owners please. They care more about thier Return on Investment than the progress of the club. No thanks, But thanks.
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SaintPaulVW added 10:00 - Sep 11
One of these stories that's barely worth having any opinion on. If the Money is right Gao will sell!

Technically Liverpool are owned by a private equity firm. It seems to have gone all right for them. However there are numerous bad examples - Coventry etc where it has been a disaster.

Just got to hope that they are aiming to invest in the club in a sustainable way to build its long term value before they exit in full or sell part of the ownership on. If they are after a quick buck then God help us.

I suspect they have been attracted by the reputation for developing players. Anyone know how they fared running Bordeaux?
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SanMarco added 11:07 - Sep 11
As pointed out it is in the Smell (sorry Mail) so almost certainly not true.

There are clear and obvious dangers with a private equity firm in charge, just as there are being owned by the Chinese or by a wealthy individual. I don't think this will happen but if it were to there is every reason to worry about Highfield's frying pan and fire. SaintPaulVW mentions Coventry - (SIsu were they called) - I seem to remember we only just dodged that disatrous bullet.
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ItchenNorth added 17:38 - Sep 11
We I suppose we have to look toward Bordeaux to establish what type of owner he might be and what level of player/ club investment is likely.
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Letters from Wiltshire #09 by wessex_exile
Letters from Wiltshire #08 by wessex_exile
Lots of discussion this week on football forums, including here, on two subjects – the petition to lobby parliament to allow limited numbers of supporters back into football grounds, and of course the return of that old chestnut from Man City Chief Executive Ferran Soriano, introducing Premier League ‘B’ teams into the EFL. First off, I don’t mind admitting I’ve signed the petition ( https://petition.parliament.uk/petitions/552036 ), as have 192,779 others at the time of writing, though I don’t actually think it’ll make any difference. I can completely understand why some do not think this is a good idea, as second-wave spikes of coronavirus infection pop up all over the country (mainly because – let’s face it – some people are dicks and can’t be trusted to sit the right way on a toilet). But to me, the two go hand in hand (not dicks and toilets) – whilst football clubs throughout the country struggle financially without spectators, we are always going to be under threat of this sort of ‘B’ team nonsense as a condition of financial support from the Premier League fat cats. They got their way in 2016 with the EFL trophy, who’s to say they won’t again when the financial squeeze really starts to tighten its grip without paying customers through the turnstiles? Robbie has featured prominently in this debate in recent weeks, and looks like he will again on Sky tomorrow if this tweet from Sophy Ridge is anything to go by -
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