GACP hint that Newcastle takeover talks may come to nothing

Joe Williams
St James Park Newcastle

An American company linked with a takeover bid for Newcastle is unlikely to push home its interest.

Joseph DaGrosa, chairman and chief executive officer of Great American Capital Partners (GACP), has confirmed talks with the Mile Ashley regime at St James’ Park have taken place and are ongoing, but has indicated they may not reach a successful conclusion.

In a telephone interview, DaGrosa told NBC Sports: “I can certainly confirm interest. I will confirm that I’ve had conversations with Mike Ashley’s top representative. I would describe those conversations as very positive.

“I would say Mike Ashley and his team are a lot easier and a lot friendlier and business savvy than anyone gives them credit for.

“We’re still talking. I’m not sure we’re going to reach an agreement, but that’s certainly not because of either side’s intractability or unwillingness to move forward.”

Speculation that GACP could make a decisive move for the Tyneside club mounted earlier this month when the group sold its stake in French side Bordeaux, although DaGrosa insisted that decision was the result of a difference of management styles.

The American company is one of a series of potential buyers to make contact with Ashley as he continues his attempts to offload the business he bought in April 2007, with its involvement coming to light as former Manchester United and Chelsea chief executive Peter Kenyon sought to put together a consortium.

Kenyon and Amanda Staveley’s PCP Capital Partners have been the most high profile, although no prospective new owner has yet managed to strike a deal with Ashley.

Newcastle currently sit in ninth place in the Premier League after taking 25 points from their first 18 Premier League games of the season under new head coach Steve Bruce.