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AS Roma on the half way line to a new investor
Posted on Thursday, 21 November 2019 11:17
Italian football team AS Roma confirmed recent media reports yesterday that suggested it is in talks with potential investors. The club – currently 6th in the Serie A league – said it is in discussions with possible suitors and if any agreements are reached regarding the transfer for shares it will provide an update to the market with adequate information. Recent media reports have suggested AS Roma is actively exploring options including an all-out sale or a disposal of a significant stake. Houston-based Friedkin Group is among those said to be interested, according to a report by Rome newspaper Il Tempo via RomaPress. This same article suggested owner and president of the club James Pallotta values the team at more than USD 1.00 billion. Goldman Sachs is said to have been hired to assist on the sale efforts with international buyers. Shares in AS Roma were halted yesterday after the rumours drove up the stock price; the company was trading 13.8 per cent higher at EUR 0.67 at 09:20 today, giving the club a market capitalisation of EUR 421.35 million. The sports team has been active since 1927 and has won the Serie A three times, the most recent being in the 2000-2001 season. In the current league table, AS Roma is 13 points away from the top position, held by Juventus with 32 points. However, the group lost its last match to Parma, currently in 8th place, 2-0 on 10th November. AS Roma’s next fixture is Brescia at home on 24th November. Zephyr, the M&A database published by Bureau van Dijk, shows there have been 119 deals targeting sports teams and clubs announced worldwide in 2019 to date. Interestingly, in the largest of these, Italian football club Juventus conducted a capital increase involving Dutch investor EXOR, among others, raising a total EUR 300.00 million. Atlanta Falcons Football Club, ACF Fiorentina, FC Internazionale Milano – more commonly known as Inter Milan – and LOSC Lille, among others, have also been targeted in the year so far. © Zephus Ltd