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AS Roma seeks new buyers after Friedkin deal falls through

AS Roma president James Pallotta (Credit: Getty Images)

The owners of Serie A club AS Roma have been forced to seek new buyers after a planned €750m ($844m) sale to Texas-based billionaire Daniel Friedkin fell through, according to the Financial Times.

Boston-based American businessman James Pallotta, Roma’s president and chairman, is eager to sell the club after becoming frustrated by city authorities’ willingness to help the team move stadiums or upgrade current venue Stadio Olimpico.

Pallotta and a group of investors bought two-thirds of club shares for approximately $100m (€89m) in 2011.

Preliminary talks with Friedkin began last November but broke down because of the financial effects of the global Covid-19 pandemic. According to the report, Friedkin made a revised offer of €575m in late May, which was rejected by Pallotta.

Friedkin has not yet completely given up interest in the club, the article added, but he will not raise his offer.

Joseph DaGrosa, a US private equity investor whose General American Capital Partners investment group sold its stake in Ligue 1 club Bordeaux last year, is believed to be considering a bid for the club.

American investment bank and financial services company Goldman Sachs has been assisting sale efforts.

Serie A is scheduled to resume action from the coronavirus crisis on June 20.