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Roma on Thursday introduced a change of possession, with US billionaire Dan Friedkin shopping for the Serie A membership for 591 million euros ($700 million). Friedkin, 54, takes over the Italian facet from American businessman James Pallotta, 62. “AS Roma can confirm that an agreement has tonight been reached between AS Roma SPV, LLC, the majority shareholder of AS Roma S.p.A, and The Friedkin Group regarding the sale of the club,” the membership mentioned in a press release. “The operation is valued at around 591 million euros,” the membership added. The closing gross sales settlement should be signed earlier than the top of August. Pallotta purchased two-thirds of the membership’s shares in 2012, however has had 100 p.c possession since 2014.
Houston-based Friedkin is the chief government of the Friedkin Group, a consortium notably concerned within the automotive and resort and leisure business.
“All of us at The Friedkin Group are so happy to have taken the steps to become a part of this iconic city and club,” mentioned Friedkin in a press release.
“We look forward to closing the purchase as soon as possible and immersing ourselves in the AS Roma family.”
According to Forbes, his fortune is estimated at simply over 4 billion {dollars} (3.6 billion euros), which might make him the 504th richest man on this planet.
Friedkin’s son Ryan will reportedly be concerned within the day after day working of the membership.
“Over the last month, Dan and Ryan Friedkin have demonstrated their total commitment to finalising this deal and taking the club forward in a positive way,” mentioned Pallotta.
“I am sure they will be great future owners for AS Roma.”
Boston-based Pallotta had been unpopular amongst membership followers for his uncommon appearances in Italy and his dealing with of participant transfers and the departures of membership legends Francesco Totti and Daniele De Rossi who have been each pushed out of the membership.
Roma have had recurring monetary difficulties and been sanctioned by European soccer’s governing physique UEFA for breaches of economic honest play.
As a consequence the membership are very lively within the switch market, repeatedly promoting off their greatest gamers, to the chagrin of followers.
Pallotta’s nice undertaking had been the development of a brand new stadium within the south of the capital which was delayed due to authorized and bureaucratic points, and stays on the strategy planning stage.
The high-point of Pallotta’s reign was the membership’s sensational Champions League 3-Zero second leg comeback in 2018 to beat Barcelona, earlier than dropping to Liverpool within the semi-finals.
The membership received their third Serie A title in 2001, however haven’t lifted any silverware because the Italian Cup in 2008.
Promoted
This season they completed fifth, lacking out on elite European competitors for the second 12 months in a row.
They will play Sevilla later Thursday within the Europa League final 16.
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