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The president of Rome, James Pallotta, agreed to be part of The Friedkin Group, after being connected to a change to Newcastle United.
AS Roma SPV LLC signed a percentage acquisition agreement with Friedkin Group on Wednesday night, which will see the majority shareholder sell its majority stake in the club for 533 million pounds.
Pallotta has been president of Rome since 2012, after leading a public takeover bid through an Organization of American investors, but had been open to promoting the club for some time.
The billionaire, who is also a co-owner and board member of the NBA giants, the Boston Celtics, has been connected to an offer for Newcastle in the Italian press, but has not yet commented on this information.
“I am pleased to see that we have reached an agreement with the Friedkin Group for the sale of AS Roma,” he said on a Rome website.
“We signed the contracts tonight and over the next few days we will now paint together to complete the formal and legal process that will result in the replacement of the club’s hands.
“Over the past month, Dan and Ryan Friedkin have shown their overall commitment to finalizing this agreement and making the club move forward in a positive way. I’m sure they’ll be wonderful long-term owners of AS Roma.”
Dan Friedkin, president and CEO of Friedkin Group, added: “Inside Friedkin Group, we are very pleased to have taken the mandatory steps to be part of this iconic city and club. We look forward to completing the acquisition as soon as we imagine and immersing ourselves in the AS Roma family.