Roma president James Pallotta has agreed to sell up to the Friedkin Group - having been linked with a move for Newcastle United.
AS Roma SPV LLC signed an equity purchase agreement with the Friedkin Group on Wednesday night, which will see the majority shareholder sell its controlling stake in the club for £533m.
Pallotta has been Roma's president since 2012, after spearheading a takeover bid by a group of US investors, but had been open to selling the club for some time.
The billionaire, who is also the co-owner and executive board member of NBA giants the Boston Celtics, has been repeatedly linked with a bid for Newcastle in the Italian press but has yet to comment on those reports.
“I am pleased to confirm we have reached an agreement with the The Friedkin Group for the sale of AS Roma," he said in a statement on Roma's website.
"We have signed the contracts tonight and, over the coming days, will now work together to complete the formal and legal process that will result in the club changing hands.
"Over the last month, Dan and Ryan Friedkin have demonstrated their total commitment to finalising this deal and taking the club forward in a positive way. I am sure they will be great future owners for AS Roma.”
Dan Friedkin, chairman and CEO of the Friedkin Group, added: “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. We look forward to closing the purchase as soon as possible and immersing ourselves in the AS Roma family.”
