AS Roma: Pallotta prepares to sell to Friedkin

Rome football team confirms investment talks with potential investors.

Serie A side AS Roma has confirmed rumours that "preliminary contacts are underway with potential investors" seeking to take control of the Rome club, with widespread speculation that US billionaire Dan Friedkin is the frontrunner.

AS Roma is currently owned by another American billionaire, Boston-based James Pallotta, who reportedly wishes to sell the majority of his stake but would possibly stay on at the club in a minority capacity.

The negotiation of the sale to the Friedkin Group, headed by the Texan billionaire, is rumoured to have now entered the final stages, according to Il Romanista.

Friedkin, whose company distributes Toyota cars exclusively in five US states, has allegedly made a bid of €600 million to Pallotta whose reported asking price is €800 million.

Friedkin's personal wealth is estimated at $4.2 billion and according to Forbes he is the 504th richest man in the world.