An investment group led by Boston businessman Jim Pallotta has sold its controlling stake in the AS Roma soccer team to a Texan billionaire.
The soccer team and its buyer, The Friedkin Group, announced that it completed the deal with Pallotta’s NEEP Roma Holding on Monday. The negotiations have been rumored since late 2019. The team confirmed a deal was struck on Aug. 5 that was valued at 591 million euros, or about $700 million. As part of the deal, Houston-based Friedkin will make an offer for the publicly held shares in the team, roughly equivalent to a 13-percent stake. (Forbes had estimated in 2019 that the Roma team was worth $622 million.)
New owner Dan Friedkin issued a statement saying he has developed an ambitious business plan with Roma chief executive Guido Fienga, and will “give him the support, guidance and means to deliver on that plan.”