Roma have released a statement denying a deal has been formalised for The Friedkin Group to purchase the club from James Pallotta, but they are "in negotiations."
There had been multiple reports all over the Italian media that the agreement had been reached for €780-790m, therefore ending Pallotta’s seven-year reign at the Stadio Olimpico.
Suggestions an initial €50m payment was going to be handed over within 48 hours proved to be premature.
Roma have released a statement denying a deal has been formalised for The Friedkin Group to purchase the club from James Pallotta, but they are "in negotiations."
There had been multiple reports all over the Italian media that the agreement had been reached for €780-790m, therefore ending Pallotta’s seven-year reign at the Stadio Olimpico.
Suggestions an initial €50m payment was going to be handed over within 48 hours proved to be premature.
A statement was released on Sunday evening, at midnight GMT, but it did not announce the negotiations had been completed.
Instead, it warned “no definitive agreements concerning a transfer have been formalized to date and any potential transaction with The Friedkin Group remains subject to a successful completion of a legal due diligence.”
AS Roma released the following statement.
“Upon request from CONSOB, with reference to the reports that recently appeared in the press concerning a potential transaction involving A.S. Roma S.p.A. and The Friedkin Group, AS ROMA SPV LLC, the company which indirectly holds the controlling ownership of A.S. Roma S.p.A. through NEEP ROMA HOLDING S.p.A., hereby informs the Market that AS ROMA SPV LLC and The Friedkin Group are in negotiations related to a potential transaction involving NEEP ROMA HOLDING S.p.A. and its subsidiaries – including A.S. Roma S.p.A. (herein after the “ AS Roma Group”).
“In this regard, AS ROMA SPV LLC informs that no definitive agreements concerning a transfer of NEEP ROMA HOLDING S.p.A. and its subsidiaries have been formalized to date and that any potential transaction with The Friedkin Group remains subject to a successful completion of a legal due diligence upon the AS Roma Group.
“In the case of reaching any definitive agreements concerning a transfer of shares held in A.S. Roma S.p.A., AS ROMA SPV LLC will provide the Market with adequate information within the terms provided by the Law.”
The Serie A club was taken over by a group of American businessmen in the summer of 2011, headed by Thomas DiBenedetto, but Pallotta increased his investment to become President and majority shareholder a year later.
He has been pushing the Stadio Della Roma project to build a new arena for years, but it remains at the planning stage after a series of problems getting permission.
After seven complete seasons at the helm, Pallotta failed to win a single trophy.
#ASRoma have issued the following statement regarding reports that recently appeared in the press concerning a potential transaction involving AS Roma S.p.A and The Friedkin Grouphttps://t.co/8n0Rugeu6e pic.twitter.com/lERvSiopwW
— AS Roma English (@ASRomaEN) December 30, 2019