American Billionaire Friedkin buys Italian side Roma

U.S. billionaire Dan Friedkin has signed a deal to purchase Serie A side Roma.

Roma said formal contracts with the Friedkin Group were signed for a transaction valued at €591million (£532million).

The transaction is anticipated to close by the end of the month.

A group of U.S. investors led by Pallotta bought AS Roma in 2012.

Pallotta, a businessman of Italian descent, struggled to revive the fortunes of the club, which won the last of its three Serie A titles in 2001, and has seen his intentions to build a new stadium frustrated by planning issues.

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