By David Awopetu
US billionaire, Dan Friedkin, has signed a deal worth 591m euros (£532m) to take over Italian Serie A side, AS Roma.
Friedkin said: “We look forward to closing the purchase as soon as possible and immersing ourselves in the AS Roma family.”
The club in a statement said, “AS Roma can confirm that an agreement has tonight been reached between AS Roma SPV, LLC, the majority shareholder of AS Roma S.p.A, and The Friedkin Group regarding the sale of the club.
“The operation is valued at around 591 million euros.”
It is anticipated that the deal will go through by the end of August.
Pallotta bought two-thirds of the club’s shares in 2012, but has had 100% ownership since 2014.
Houston-based Friedkin, 54, is the chief executive of the Friedkin Group, a consortium notably involved in the automotive, hotel and entertainment industry.
Roma’s owners have been trying to sell for a while, holding talks with various potential buyers, amid growing frustration with local authorities over a stalled project to build a new stadium.
