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Saudi Arabia's PIF in talks to buy AS Roma

Published at :February 9, 2024 at 11:08 PM
Modified at :February 9, 2024 at 11:08 PM
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Rajarshi Shukla

PIF also has stakes in Newcastle United

The owners of AS Roma, according to reports from the Italian capital, are reportedly in talks to sell the team to Saudi Arabian investors.

According to La Repubblica, the head of Giallorossi’s legal team met on Tuesday in Riyadh, the largest city of Saudi Arabia. The debate descended into deeper themes, though the sponsorship of the Riyadh Season was one of them.

Eric Williamson, an officer of AS Roma and the right-hand man of Roma’s owners, the Friedkins, flew from the United States to take part in the gathering, implying that a more significant topic was on the agenda.

Dan Friedkin has two prospective parties: the owned by the government Public Investment Fund, which already owns Newcastle United, and Turki Alalshikh, an individual investor and president of the General Entertainment Authority in addition to being a royal adviser.

To maintain control of AS Roma, the Friedkins are currently trying to form a partnership with one of the two Saudi corporations. However, PIF and Alalshikh are also preparing proposals of about €900 million plus an additional €300 million related to the building of the new stadium, and they both want 100% of the club’s shares.

Although things are still in the early phases, updates should be anticipated in the upcoming months.

There is also talk about Turki Alalshikh, the president of the General Entertainment Authority of Saudi Arabia, who visited the Trigoria practice area previously with Riyadh Season, a supplier of Roma’s shirts.

AS Roma are being asked for at least $1 billion by the Friedkins.

According to reports, the offer is for 900 million now, with an additional 300 million as a clause. This an option that will take effect if and when Rome approves the last design for Roma’s new arena in Pietralata.

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