According to multiple reports, James Pallotta has now signed the preliminary agreement to sell AS Roma to Dan Friedkin.
The decision had been in the air after a sudden surge forward in negotiations, and the Kuwaiti group pulling out of the running.
According to multiple reports, James Pallotta has now signed the preliminary agreement to sell AS Roma to Dan Friedkin.
The decision had been in the air after a sudden surge forward in negotiations, and the Kuwaiti group pulling out of the running.
Now John Solano of ASRomaPress – who has been very well-informed from both sides of the negotiations throughout the process – and financial newspaper Milano e Finanza both confirm the signature on the paperwork was completed late Wednesday night.
Milano e Finanza claim the Friedkin Group have now opened a Newco based in London to complete the takeover process.
That is expected to take a few weeks yet due to the sheer size of the operation, but August 31 is seen as the hopeful closing date.
It’d give the new owners time to refill the club coffers and begin using their clout on the summer transfer market before next season kicks off.
Friedkin has been in advanced negotiations for many months and a deal had been close to completion before the COVID-19 crisis hit financial markets all over the world.
This prompted the Friedkin Group to re-evaluate the original €700m offer on the table, which Pallotta then rejected.
Talks resumed recently and are widely believed to be on the verge of completion for around €500-600m, including money for recapitalisation.