American investment group purchases Ligue 1 club Bordeaux
You can add another name to the long list of Americans who are involved in European soccer.
The ownership group of FC Girondins de Bordeaux, or simply Bordeaux, announced today that it was selling 100 percent of the club to American investment firm General American Capital Partners, lead by Yonkers, N.Y. native Joseph DaGrosa. RMC Sport in France reports that GACP purchased the club for just $81.6 million.
[READ: Friday’s Transfer Rumor Roundup]
The outgoing ownership group - M6 - now receives that sum of money as well as the nearly $48 million the club made from selling star winger Malcolm to Barcelona earlier this week.
In a statement, M6 said in order for Bordeaux to keep up with the growing wage bills across Ligue 1, it had to sell.
The M6 Group considers that the sale of FC Girondins de Bordeaux to GACP, which proposes an ambitious sports project and a long-term investment strategy, would constitute the best option to maintain the club’s position and ultimately improve its results.
It appears to be the first time DaGrosa has gotten into professional sports. As the European game becomes more global in search of greater revenues and teams look to tap into the American market, you can expect to see more Bordeaux presence in the future in the U.S.
It remains to be seen though how much DaGrosa’s group will pour into the club to get it back into the UEFA Champions League.