On April 6, 2020, AS Roma, the renowned Italian football club, announced its sale to US billionaire Dan Friedkin for €591 million ($700 million).
The deal transfers ownership from American businessman James Pallotta to Friedkin, a 54-year-old Houston-based entrepreneur and CEO of The Friedkin Group.
The agreement, confirmed by the club, is set to be finalized by the end of August 2020.
Friedkin’s Vision for Roma
Friedkin, whose fortune is estimated at €3.6 billion by Forbes, expressed excitement about joining the “AS Roma family.” He stated, “We’re thrilled to take this step and can’t wait to engage deeply with this iconic club and its passionate fans.”
His son, Ryan Friedkin, is expected to play a key role in the club’s daily operations, signaling a hands-on approach to management.
Pallotta’s Exit After Eight Years
James Pallotta, who acquired a majority stake in Roma in 2012 and full ownership in 2014, faced criticism from fans for his limited presence in Italy and controversial decisions, including the departure of club legends Francesco Totti and Daniele De Rossi.
Pallotta praised the Friedkins, saying, “Dan and Ryan have shown real dedication to Roma’s future, and I’m confident they’ll be excellent stewards.”
Challenges and Ambitions
Roma, three-time Serie A champions, last won the league in 2001 and the Italian Cup in 2008. The club finished fifth in the 2019-20 Serie A season and has not qualified for the Champions League in the past two seasons, despite reaching the semi-finals in 2018.
Pallotta’s plan for a new stadium in southern Rome remains stalled due to legal and bureaucratic hurdles.
Friedkin’s Business Background
The Friedkin Group, led by Dan Friedkin, operates in industries like automotive, hospitality, and entertainment.
With his wealth and business expertise, Friedkin aims to revitalize Roma, boosting its competitiveness in Serie A and European football. The acquisition marks a new chapter for the club, with fans hopeful for a brighter future.
What’s Next for Roma?
The ownership change comes at a pivotal moment for AS Roma, as the club seeks to reclaim its status among Italy’s elite.
The Friedkins’ commitment to engaging with the club and its supporters could pave the way for strategic investments, improved performance, and progress on long-delayed projects like the new stadium.
