AS Roma in ‘€780m’ Friedkin Group takeover talks

AS Roma in ‘€780m’ Friedkin Group takeover talks
Italian soccer giants AS Roma have confirmed they are in negotiations with the Friedkin Group, a Texas-based consortium run by US billionaire Dan Friedkin, over a potential sale of the club.

Roma issued an official statement after Italian media reports claimed the Serie A outfit’s current owner James Pallotta had reached a preliminary agreement to sell his majority share in the club to fellow American Friedkin for as much as €780 million (US$874 million). 

Despite confirming the talks with Friedkin, Roma said that ‘no definitive agreements’ have been formalised.

Roma’s statement added that any potential takeover deal with the Friedkin Group ‘remains subject to a successful completion of a legal due diligence upon the AS Roma Group.’

Pallotta became Roma’s majority shareholder in 2012, but has struggled to return the club to their former glories and has been frustrated by local authorities in his efforts to move ahead with plans to build a new stadium.

The group overseen by Friedkin, who has a net worth of US$4.3 billion, according to Forbes, has assets including luxury resorts and one of the world’s largest independent Toyota distributors. 

News of the potential takeover saw Roma’s share price soar by more than nine per cent. If confirmed, it would represent a record valuation for a Serie A club. 

On the pitch, Roma sit fourth in Serie A and return from the top-flight Italian league’s winter break with a home fixture against Torino on Sunday.

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