AS Roma has said that it is in preliminary talks with potential investors over a possible sale of the Italian Serie A club.
Club shares rose 16.6 percent on the Italian stock market on November 20 following reports that Texas entrepreneur Dan Friedkin is interested in investing in Roma. According to Forbes, Friedkin is worth $4.2bn.
Boston-based American businessman James Pallotta, Roma’s president and chairman, has been frustrated by city authorities’ willingness to help the club move stadiums or upgrade current venue Stadio Olimpico.
Pallotta and a group of investors bought two-thirds of club shares for approximately $100m in 2011. According to Italian reports, Pallotta values the team at more than $1bn.
American investment bank and financial services company Goldman Sachs has been assisting sale efforts. It is unclear if Pallotta and his partners want to sell all or part of the club.