Exclusive: Why GACP Sports and Joseph DaGrosa won't be launching a takeover of Sunderland AFC

GACP Sports won’t be launching a takeover of Sunderland AFC - having been approached over a possible deal.

Monday, 13th January 2020, 7:00 am

The Echo understands that the investment firm were offered the chance to assist in forming a bid to buy the Black Cats, who were publicly placed up for sale by Stewart Donald.

A senior source at the Miami-based corporation has confirmed that the group were approached to gauge potential interest in a bid for the League One side but, after a tentative look at the club, decided to turn their attention elsewhere.

GACP Sports, who are led by millionaire Joseph DaGrosa, hit the headlines in 2018 when they bought a small shareholding in Ligue 1 side Bordeaux.

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US businessman Joseph DaGrosa and his GACP Sports group won't be launching a takeover of Sunderland AFC

In 2019, they entered discussions over a deal to purchase Newcastle United in a joint venture with Peter Kenyon - and are believed to still be keen on a deal for the Magpies.

They recently sold their minority stake in Bordeaux in a bid to raise funds to facilitate fresh investment, with DaGrosa having made no secret of his desire to invest in English football in the past.

But they have categorically denied any interest in Sunderland AFC, with the senior source at GACP Sports telling the Echo that the firm are instead ‘focusing on other projects’.

It remains unclear whether the party attempting to broker a deal for the Wearsiders was Kenyon, who himself is keen to return to football after a spell in the wilderness following high profile roles at Manchester United and Chelsea.

Indeed, it is understood that Kenyon could be interested in a move for Sunderland AFC, provided he can find the necessary backing.

That backing, however, will not be coming from GACP Sports.

Donald and Sunderland remain confident of finalising a takeover in the coming weeks, with the majority shareholder stating that he expected a deal to be complete in a ‘month or two’ during an appearance on BBC Newcastle – while also claiming he would be contacting parties who had previously expressed an interest in the club.