Billionaire investor from Texas Dan Friedkin bought AS Roma from another American businessman James Pallotta.
We already wrote about that, but now the deal is official and it’s finished. Pallotta wanted to get €750 million, but in the end, Friedkin managed to lower the price.
„I am sure they will be great future owners for AS Roma“, said Pallotta afterwards.
Coronavirus pandemic is one of the factors that lowered the price of the Rome-based Italian football giant. But even in these circumstances, the club was sold for nearly €600 million.
Mr. Pallotta had rejected a revised offer of €575m from Mr. Friedkin in May and worked with bankers at Goldman Sachs to search for alternative bidders. That is according to people familiar with the negotiations. But on Thursday, the club announced a €591m deal had been reached, with the transaction expected to be completed by the end of this month.
This is an all-cash deal, and Friedkin family will control 86.6 % of the club now. 13.4 % of the club is on the stock exchange, and Friedkin Group plans to buy them, too.
“Over the past month, Dan and Ryan Friedkin have demonstrated their total commitment to finalising this deal and taking the club forward in a positive way. I am sure they will be great future owners for AS Roma”, Pallotta wrote in his final statement.
“All of us are so happy to have taken the steps to become a part of this iconic city and club,” said Mr. Friedkin. “We look forward to closing the purchase as soon as possible and immersing ourselves in the AS Roma family.”
AS Roma finished last season 5th, 8 points behind city rival Lazio, who took their place in the Champions League. Fans hope that new owners will invest heavily in the squad, so their club could compete with Juventus for the silverware in Italy.