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US billionaire Dan Friedkin,buys AS Roma for $700m

AS Roma on Thursday announced a change of ownership, with US billionaire Dan Friedkin buying the Serie A club for $700 million.Friedkin, 54, takes over the Italian side from American businessman James Pallotta, 62.

“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 club said in a statement.

“The operation is valued at around 591 million euros,” the club added. The final sales agreement must be signed before the end of August.

Houston-based Friedkin is the chief executive of the Friedkin Group, a consortium notably involved in the automotive and hotel and entertainment industry.

According to Forbes, his fortune is estimated at just over four billion dollars, which would make him the 504th richest man in the world.

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