AS Roma have fallen into the hands of American billionaire Dan Friedkin and his Friedkin Group. The Giallorossi announced on Thursday morning via their official website and social media channels that the deal with Friedkin will be completed at the end of August. The American will take over the club from Jim Pallotta in a deal that is worth around €600m. The next few weeks will be used to finalize the deal.
With the agreement Roma ends a ten-month period of negotiations. Friedkin, who earned his money in car sales, submitted several offers to Pallotta in the past year. At first the Italian American was reluctant to sell the Italian club but due to the coronavirus pandemic, Roma not playing in the Champions League next season and unrest under the club’s shareholders, Pallotta decided to go ahead with the takeover.
Pallotta joined Roma in 2011 as he aimed to bring the club back to the top of Italy and Europe. While the club managed to reach the semi finals of the Champions League in 2018, the performances have not been impressing. Roma have not won a single trophy under Pallotta and the owner received a lot of criticism from the fans Club icons such as Francesco Totti and Daniele De Rossi have also closed the door of the Stadio Olimpico behind them in a controversial way in recent years.
Now that a takeover is agreed, Pallotta will end his involvement with Roma. “I can say with satisfaction that we have reached an agreement with the Friedkin Group regarding the sale of AS Roma,” said the outgoing owner. “We signed the documents tonight (Wednesday evening, ed.) And will work in the coming days to complete the formal and legal path that will lead to the transfer of the club. I am sure they will be great future owners of AS Roma.”