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The tortuous path to Southampton's sale

Southampton seems to have been beset by chancers and dodgy individuals before finally agreeing a sale this week.  A Premier League club for sale attracts plenty of bidders, but then one has to sort out who is serious and credible.

For nearly two years, potential buyers expressed interest but then walked away due to economic uncertainty, the global pandemic, the threat of a European Super League and a host of other reasons.

It should be said there was also an element of Southampton being picky in terms of who they were sold to, ensuring the eventual purchasers would have a plan in place should they acquire Gao Jisheng’s 80 per cent majority shareholding. Many prospective owners were spurned because of this.

The Athletic has reported on the process throughout the last 18 months and is led to believe around 25 different potential buyers presented themselves to the Premier League club.

It is thought about half of them managed to sit down with those involved in trying to sell Southampton, and of that figure, five or six were deemed to be serious.

A deal had been agreed with an American hotelier at the beginning of 2020. It is thought the only thing left to do was put pen to paper. But, understandably, at what was the beginning of the pandemic — due to the financial uncertainty COVID-19 caused worldwide — that prospective owner pulled out at the last minute. This meant the club moved back to square one and now had to confront starting their search again amid a global crisis.

Supporters will be familiar with Joseph DaGrosa’s intention to purchase Gao’s stake, with the American entering a period of exclusivity with Southampton towards the end of 2020.  While the specifics of that deal will remain bound by non-disclosure agreements, DaGrosa later told The Athletic he thought that Gao was seeking too much money especially when you consider the losses incurred because of COVID-19.

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