SOUTHAMPTON are in talks with US billionaire Joseph DaGrosa over a £200million takeover, according to reports.
DeGrosa saw a bid to buy Newcastle fail last year but it is thought the American sees value in the Premier League.
US billionaire Joseph DeGrosa is in talks with Southampton over a £200m takeover bid, a year after failing to buy NewcastleCredit: Icon Sport – Getty
According to the Daily Mail, he has entered into a period of exclusive negotiations with Southampton owner Gao Jisheng.
The current Saints chief put the St Mary’s club on the market earlier this year with struggles over transferring money from China.
Jisheng bought an 80 per cent stake in Southampton for £210m three years ago but is now ready to move on.
It remains unclear whether a sale will go through at this stage but would likely lead to plenty of new signings.
The report adds that DeGrosa is hoping to capitalise on the unstable market with the coronavirus pandemic reducing the value of the Saints.
The 56-year-old New Yorker and made his money through a series of successful investments.
He is also the co-founder of MapleWood Partners, 1848 Capital Partners, and General American Capital Partners (GACP).
DeGrosa and his GACP equity company bought Ligue 1 side Bordeaux for £70m in 2018 but he sold the shares to pursue his purchase of Newcastle.
Gao Jisheng paid £210m for an 80 per cent stake in the Saints three years ago but is ready to sellCredit: PA:Press Association
Despite holding talks with Mike Ashley, a formal offer did not materialise.
Speaking in an interview with Get French Football News, DeGrosa revealed his passion behind owning and running a football club compared to other industries.
He said: “There is an emotion in this business that does not exist in any other.
“I’ve been in insurance which is all about the numbers, the burger business (Burger King) and believe it or not, that’s also all about the numbers.
“Then you get into sport and it’s emotional. Everyone has a view and everyone likes to share their views. It’s a real balancing act.”
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Source: Soccer - thesun.co.uk
