AS Roma have confirmed a change in ownership, with The Friedkin Group completing their takeover of the Italian giants.
After Friedkin Group’s reported €750m takeover collapsed earlier this year because of the coronavirus pandemic, they have finally gone ahead with their takeover of three-time Italian champions AS Roma.
President James Pallotta has been on the lookout for a buyer for quite some time. He worked alongside bankers at Goldman Sachs to search for new owners, but seemingly couldn’t find anyone else. Talks with Friedkin, therefore, resumed.
Thanks to the global financial impact of COVID-19, though, Friedkin re-evaluated their offer, which caused a delay in negotiations. However, both parties have reportedly agreed on a takeover of around €500-600m.
Roma confirmed an agreement for the takeover was struck on Wednesday night in an official statement. Although the Italian club didn’t disclose the value of the buyout.
The Giallorossi aim to finalize the takeover by the end of the month.
“I am pleased to confirm we have reached an agreement with The Friedkin Group for the sale of AS Roma,” said Pallotta on the club’s website.
“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.
“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.”
The Friedkin Group CEO, Dan Friedkin, added: “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.
“We look forward to closing the purchase as soon as possible and immersing ourselves in the AS Roma family.”