Roma sold to US businessman Friedkin for €591 million

AS Roma's Portuguese head coach Paulo Fonseca reacts during the UEFA Europa League round of 16 football match between Sevilla FC and AS Roma at the MSV Arena on August 6, 2020 in Duisburg. (AFP)
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Updated 07 August 2020

Roma sold to US businessman Friedkin for €591 million

  • Friedkin takes over the Italian side from American businessman James Pallotta

ROME: Roma on Thursday announced a change of ownership, with US billionaire Dan Friedkin buying the Serie A club for €591 million ($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,” the club added. The final sales agreement must be signed before the end of August.

Pallotta bought two-thirds of the club’s shares in 2012, but has had 100 percent ownership since 2014.

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

“All of us at The Friedkin Group are so happy to have taken the steps to become a part of this iconic city and club,” said Friedkin in a statement.

“We look forward to closing the purchase as soon as possible and immersing ourselves in the AS Roma family.”

According to Forbes, his fortune is estimated at just over four billion dollars (3.6 billion euros), which would make him the 504th richest man in the world. Friedkin’s son Ryan will reportedly be involved in the day-to-day running of the club.

“Over the last month, Dan and Ryan Friedkin have demonstrated their total commitment to finalizing this deal and taking the club forward in a positive way,” said Pallotta.

“I am sure they will be great future owners for AS Roma.”

Boston-based Pallotta had been unpopular among club fans for his rare appearances in Italy and his handling of player transfers and the departures of club legends Francesco Totti and Daniele De Rossi who were both pushed out of the club.

Roma have had recurring financial difficulties and been sanctioned by European football’s governing body UEFA for breaches of financial fair play.

As a result the club are very active in the transfer market, regularly selling off their best players, to the chagrin of fans.

Pallotta’s great project had been the construction of a new stadium in the south of the capital which was delayed because of legal and bureaucratic issues, and remains at the planning stage.

The high point of Pallotta’s reign was the club’s sensational Champions League 3-0 second leg comeback in 2018 to beat Barcelona, before losing to Liverpool in the semifinals.

The club won their third Serie A title in 2001, but have not lifted any silverware since the Italian Cup in 2008.

This season they finished fifth, missing out on elite European competition for the second year in a row.

They will play Sevilla later Thursday in the Europa League last 16.


Rays rally with walkoff stunner to level World Series against Dodgers

Updated 26 October 2020

Rays rally with walkoff stunner to level World Series against Dodgers

ARLINGTON, United States: Brett Phillips’s single scored two runs and the Tampa Bay Rays walked off with a stunning 8-7 victory over the Los Angeles Dodgers Saturday that knotted the World Series at two games apiece.
The Rays became the first team in post-season history to homer in four straight innings, but they trailed 7-6 heading into the bottom of the ninth.
With two out and two on, Phillips — who entered the game in the eighth as a pinch runner — was down to his last strike in the ninth when he singled to right center field off Dodgers closing pitcher Kenley Jansen and Kevin Kiermaier scored from second base.
Randy Arozarena racing from first, rounded third after the ball bounced off the glove of Dodgers outfielder Chris Taylor.
Arozarena tripped between third and home and looked done for, but Dodgers catcher Will Smith bobbled the throw to the plate and Arozarena was able to scramble forward and throw himself headfirst across the plate in time.
“Golly, what a special moment,” said Phillips, who last got a hit in the Rays’ 58th game of the regular season on September 25.
“I am having a hard time putting my emotions into words,” Phillips said. “Baseball is fun.”
Kiermaier called the ending — which sent the Rays into a frenzy of celebration on Globe Life Field in Arlington, Texas, “truly incredible.”
Arozarena notched a record-breaking ninth home run of the post-season. Kiermaier, Hunter Renfroe and Brandon Lowe also homered for the Rays, who are seeking the first World Series title in franchise history.
The Dodgers, back in the World Series for a third time in four years after disappointments in 2017 and 2018, are seeking their seventh title — but a first since 1988.
“This is certainly a tough one,” Dodgers manager Dave Roberts said. “They were the best team all year in the American League.
“They are not going to give anything away. We’ve got to regroup and get ready for tomorrow.”
The spectacular ending, capped a tense back-and-forth battle with a World Series record eight straight half-innings with a run scored.
Justin Turner and Corey Seager homered for the Dodgers. Seager’s was his eighth of the playoffs, temporarily tying the single post-season record until Arozarena notched his ninth in the fourth frame.
For the second game in a row Turner got things rolling with a solo homer in the first inning.
Seager added a solo shot in the top of the third that put the Dodgers up 2-0, but Arozarena pulled back a run in the bottom of the fourth with a lead-off blast to right centerfield off a 95 mph fastball from Julio Urias.
Los Angeles stretched the lead to 3-1 in the fifth when Seager singled off Rays relief pitcher Pete Fairbanks and reached second on a wild pitch. With two outs in the inning Max Muncy reached first on a sharp line drive to right field that scored Seager.
The Rays responded with a home run from Renfroe to cut the margin to one run in the bottom of the fifth.
The Dodgers pushed the lead back to two in the top of the sixth when Enrique Hernandez fired a double down the left field line that scored two.
But Lowe — the two-homer hero of the Rays’ game-two victory — put the Rays in front for the first time with a three-run blast off Dodgers reliever Pedro Baez in the bottom of the sixth.
In the seventh, Dodgers pinch-hitter Joc Pederson came up with the bases loaded and two out and delivered a two-run single that put Los Angeles back in front.
All seven Dodgers runs came with two outs — continuing a trend for them this series.
The Rays however, wouldn’t be denied, Kiermaier’s homer off Baez knotting the score at 6-6.
“We have no quit,” Kiermaier said. “We have been doing that all year. We’ve been the comeback kids. To do it on the big stage makes it that much sweeter.”