US Billionaire Buys Serie A Club AS Roma

Dan Friedkin, CEO of The Friedkin Group, started negotiations in December 2019 with the group of American investors who own the Italian club, and finally, they reached an agreement.

Friedkin is known for his car, hospitality, entertainment, and golf companies. In fact, Dan made his directorial debut last year with the movie Lyrebird produced by his studio Imperative Entertainment.

This would be The Friedkin Group’s first investment in a major sports club. They seem excited about the purchase, “We look forward to closing the purchase as soon as possible and immersing ourselves in the AS Roma family,” Friedkin said.

According to various media reports, the agreement would be for around $600 million. Everything is expected to be ready by the end of August.

James Pallotta, president of the club and leader of the investors who bought the Roman club in 2012 has been pleased with the deal.

Pallotta, a businessman of Italian descent, tried to restore AS Roma to its former glory. His plans included building a new stadium exclusively for the club and obtaining local and European titles.

Pallotta’s plans never came to fruition; during his tenure, Roma did not get any title. They only achieved three runner-up finishes in the Italian league without being a real threat to Juventus’ dominance. AS Roma’s most relevant achievement at the European level was reaching the semifinal of the UEFA Champions League in 2017-2018. Pallotta’s idea to build a stadium were also unsuccessful due to planning problems.

We will see if, with the leadership and capital of Friedkin, AS Roma flies high in the different competitions again.