American Dan Friedkin completes takeover of Roma from president James Pallotta in £532m deal

Roma have announced The Friedkin Group have completed a deal to become new owners of the club, acquiring 86.6 per cent of the majority stake in the company.

American billionaire Dan Friedkin has agreed to purchase the Serie A outfit from president James Pallotta for £532million (€591m), taking on all club debts.

'We are delighted to join the AS Roma family,' said Dan Friedkin, CEO and chairman of The Friedkin Group. 'As one fan wrote recently, 'Take our iconic club and make it one of the greatest names in world football'.

'We intend to do just that.

'Our commitment to Roma is total. We will be very present in Rome, a city that holds a special place in our hearts, as we embark on this exciting journey. We recognise we are entrusted with a team that is a vital part of the soul of Rome, and this is a responsibility that we find humbling and will always take very seriously.

'As business owners, we look to identify and back strong management teams and leadership. Guido Fienga has proven to be a great CEO of Roma, and together we have developed an ambitious and disciplined business plan.

'We will give him the support, guidance and means to deliver on this plan and, to help maintain focus over these crucial weeks ahead, it will be primarily his voice that will speak for AS Roma.

'Our shared vision for the club and the team is to favour a sustained, long-term investment approach rather than quick fixes of questionable durability.

'I'd also like to take a moment to thank Jim Pallotta and his partners for all they have done for the club. He and his team have been very helpful in preparing for a smooth transition and we wish him nothing but the best in the future.

'Finally, no comments would be complete without acknowledging the incredible strength, passion and loyalty of the fans and the Curva Sud. We will stand shoulder to shoulder with you as we develop this club and challenge for trophies in the future. We can't wait to get to work and for our new season to start.'

Freidkin signed the paperwork over a teleconference call in Houston due to Coronavirus restrictions, and Napoli president Aurelio De Laurentiis has even sent a greeting message to the new Roma chief.

De Laurentiis tweeted: 'Dear Friedkin, welcome to Italian Soccer! Italian football is becoming stronger and more international. It is now an attractive prospect for investors.

'I am certain that you, like us, want to give an important contribution to transform the football system in Italy, making it more and more an industry that is a mix of sport and entertainment.'