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Sport Soccer: U.S. billionaire Friedkin signs deal to buy Italy's AS Roma

12:42  06 august  2020
12:42  06 august  2020 Source:   reuters.com

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Ownership of the Italian soccer giants AS Roma may be changing sooner rather than later, but will still remain in American hands. The Friedkin Group, a consortium run by U . S . billionaire Dan Friedkin , is reportedly about to purchase the majority share of AS Roma from current co-owner and chairman

MILAN (Reuters) - AS Roma is in talks with a group led by U . S . billionaire Dan Friedkin looking to buy The proposed deal is the latest soccer foray by a U . S . investor after Manchester City' s Abu In June American billionaire Rocco Commisso bought Serie A club ACF Fiorentina from Italy ' s Della

ROME (Reuters) - U.S. billionaire Dan Friedkin has signed a deal worth more than $700 million to purchase the Italian Serie A soccer club AS Roma, the club said on Thursday.

Serie A - AS Roma v Lazio © Reuters/Jennifer Lorenzini Serie A - AS Roma v Lazio

Roma said in statement that formal contracts with the Houston, Texas-based Friedkin Group were signed on Wednesday for a transaction valued at 591 million euros.

"We look forward to closing the purchase as soon as possible and immersing ourselves in the AS Roma family," Friedkin said in a statement on the club website.

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US billionaire Dan Friedkin is poised to buy a majority stake in Italian club Roma in a deal worth up to 780 million euros (2 million), accordin There was no official confirmation of the deal but Roma had in November said the club was in “preliminary talks with potential investors”.

American billionaire Rocco Commisso has bought Italian Serie A soccer club ACF Fiorentina from Deal terms were not disclosed but Reuters had earlier reported that the deal was valued at around Italian -born Commisso, who also owns U . S . soccer club New York Cosmos and is the chairman and

Current president James Pallotta said the two sides would work to complete the process over the coming days. The transaction is anticipated to close by the of the month.

"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," said Pallotta

a group of young men playing a game of football: FILE PHOTO: Serie A - Juventus v AS Roma © Reuters/Massimo Pinca FILE PHOTO: Serie A - Juventus v AS Roma

It is the first involvement in a major sports club for the Friedkin group which encompasses a consortium of automotive, hospitality, entertainment, golf and adventure companies.

These include Imperative Entertainment, described by the Friedkin Group as an "innovative entertainment studio" based in California. Dan Friedkin himself made his debut as a director last year with the film Lyrebird.

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American billionaire Rocco Commisso has bought Italian Serie A soccer club ACF Fiorentina from the Della Valle family, his U . S . cable Italian -born Commisso, who also owns U . S . soccer club New York Cosmos and is the chairman and CEO of Mediacom, made a failed offer last year to buy a

(Reuters) - American billionaire Rocco Commisso has bought Italian Serie A soccer club ACF Fiorentina from the Della Valle family, his U . S . cable Italian -born Commisso, who also owns U . S . soccer club New York Cosmos and is the chairman and CEO of Mediacom, made a failed offer last

A group of U.S. investors led by Pallotta bought AS Roma in 2012.

Pallotta, a businessman of Italian descent, employed eight different coaches as he struggled to revive the fortunes of the club, which won the last of its three Serie A titles in 2001.

Roma finished runners-up three times under his leadership without seriously challenging the dominance of Juventus, who have won Serie A for the last nine seasons. They also reached the Champions League semi-finals in 2017-18.

He also saw his plans to build a new stadium for the club, which currently shares the Stadio Olimpico with neighbours Lazio, frustrated by planning issues.

(Reporting by Giselda Vagnoni; Editing by Shri Navaratnam, Kevin Liffey and Giles Elgood)


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