Dan Friedkin has finally completed the acquisition of AS Roma and will now be looking to take the famous I Giallorossi back to the glory days that have been very few and far between in recent memory.
The Friedkin Group bought the club for a transaction valued at €591m (£533m), which sees the American company take an 86.6 per cent majority stake in the club. The new owner certainly seems excited about what the future holds for the club and shares the same enthusiasm that bettors have when they find out about the new online casino launched in 2020.
“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,” Friedkin said in a statement.
“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.”
According to fansite Chiesa di Totti, it is believed Friedkin will actually pay around €199 million directly to James Pallotta, the former president/owner of the club, whilst there is expected to be payments of an additional couple of million to the minority shareholders.
Indeed, AS Roma’s troubles with money have been well-documented in recent years and a large part of the overall transaction would have been the millions worth of debt that the club still owes to Goldman Sachs. The Friedkin Group has assumed responsibility for that debt repayment, so effectively nothing changes on the bottom line, as far as Financial Fair Play goes.
Therefore, AS Roma have managed to earn themselves another stay of execution where the regulations are concerned. I Giallorossi will be handed a further 12-month grace period under the Financial Fair Play regulations as is customary for any club that changes hands to a new owner. Therefore, the club are not under any stringent pressure to sell some of their best players immediately and can keep hold of them for at least another year. If they manage to do that, perhaps they will be able to return the glory days to the Italian capital once again.
There needs to be a lot of change from the days that Pallotta had when at the helm of the club. And, it seems as though many have already started to take place. Pallotta’s old board has already seen major reshuffling as at least seven have already resigned, whilst Freidkin has brought in individuals he trusts highly.
