AS Roma said Thursday that American
businessman James Pallotta has signed a binding agreement to
sell his controlling stake in the club to his compatriot,
billionaire Dan Friedkin.
The 591-million-euro operation should be concluded by the end of
August, a statement said.
Pallotta, 62, was part of an American consortium that took over
the Rome club nine years ago.
Roma have not won any trophies since then.
"We have signed the contracts tonight and, over the coming days,
will now work together to complete the formal and legal process
that will result in the club changing hands," said Pallotta.
"Over the last month, Dan and Ryan Friedkin have demonstrated
their total commitment to finalizing this deal and taking the
club forward in a positive way.
"I am sure they will be great future owners for AS Roma".
Friedkin, 54, is the CEO of The Friedkin Group and of Gulf
States Toyota Distributors (GST), an American franchise
distributor of Toyota vehicles and parts.
"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," said
Friedkin.
"We look forward to closing the purchase as soon as possible and
immersing ourselves in the AS Roma family".
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