US billionaire and producer, Dan Friedkin, signed a 591m euro ($700m) deal to take over Italian Serie A side Roma.
As chief executive of the Friedkin Group, he has made investments in the automotive, entertainment, and hospitality industries and now decided to make a huge investment in the sports industry as well.
Friedkin will take over Roma from a US-based investor group that was lead by James Pallotta who had bought two-thirds of the club back in 2012 but took full ownership in 2014.
“We look forward to closing the purchase as soon as possible and immersing ourselves in the AS Roma family,” Friedkin said.
It is said that if all goes well, the deal will be finalized by the end of this month.
According to Forbes, Friedkin’s fortune is is estimated at a little over 4 billion dollars which makes him the 504th richest man in the world.