Houston billionaire buys Italian soccer club for $700 million

HOUSTON – Houston billionaire Dan Friedkin of The Friedkin Group has closed the sale on Italian soccer club AS Roma.

In a press release Monday, Friedkin, a Rice University alumnus, purchased the club for an estimated $700 million. His net worth is $4 billion, according to Forbes.

“We are delighted to join the AS Roma family,” said Friedkin in a statement. “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.”

AS Roma confirmed in the release that the club received written resignations from the team’s president, Jim Palotta, and board of directors. A new team of directors were appointed by Friedkin as of Monday.

“Like every Roma fan in the world, I truly hope The Friedkin Group can build on what we have done over the last eight years, transforming Roma into a truly international club, and take AS Roma to the next level,” Palotta said in a statement. “This is an incredibly special football club and I leave with many unforgettable memories.”