American investor turns his attention to Premier League rivals after failed Newcastle United bid

The American investor, according to CNN, “has started ownership discussions” with two unnamed Premier League clubs.

DaGrosa spoke about last year’s bid for Newcastle in an interview with the Gazette in May as the Premier League ran its owners and directors test on a consortium led by financier Amanda Staveley.

“We were actually a bit further along than most people realised,” said DaGrosa, chief executive officer of GACP Sports. “We spent a lot of our resources, internally as well as externally. We did a lot of homework on the team – and on the league.

“That information is obviously helpful to us as we look at other clubs.”

Saudi Arabia’s Public Investment Fund, which was funding Staveley’s bid, publicly withdrew from the takeover process in late July over the Premier League’s failure to make a timely decision on its approval.

However, Staveley, and partners David and Simon Reuben, remain committed to the bid along with Mike Ashley, United’s owner, and there are hopes on Tyneside that the takeover can be resurrected.

Meanwhile, DaGrosa – who led a takeover of Bordeaux in 2018, but sold up last year – has set up Kapital Football Group, and he hopes to build a portfolio of clubs much like Manchester City parent company City Football Group has over the past decade.

And, importantly, DaGrosa believes now is a good time to invest in football – despite the financial challenges the game is facing due to the coronavirus pandemic.

"I think there's an opportunity to buy clubs at lower prices than just a few months ago, but more importantly, there's an opportunity to acquire players, at least for the next couple of transfer market windows, at pretty material discounts because clubs need cash," DaGrosa told CNN Sport.

"Just about every club out there, with very few exceptions, are looking for ways to shore up their finances and the easiest way to do that is to sell players.

"I think a lot of clubs are faced with a very tough choice in terms of staying up in the table and generating cash through the sale of players, and I think a lot of them are forced to sell players that they otherwise might want to keep.

"I think it's a very good time if you can play offence in this transfer market window – and be on the buying side.”

DaGrosa – who has spoken about his dealings with Ashley – has learnt lessons from his experience with Bordeaux.

"As an American, I had a new-found appreciation for the real passion for the sport in Europe, and more particularly for the passion within a particular city," said DaGrosa.

"As owners we're just part of that club's and that city's long-term history, and at the end of the day we're just a small part of it in the grand scheme of things.”