Sheikh To Invest $66M In Serie A Club AS Roma; Team Stocks Rise 9.7%
An Italy-based sheikh "has been given until March 14 whether to invest" a reported $66M in Serie A club AS Roma, according to ISPORTCONNECT. The club confirmed last week that a preliminary agreement had been reached with Sheikh Adnan Adel Aref al Qaddumi al Shtewi and his company, NEEP Roma Holding SpA, to enter the club "directly or indirectly." Roma is currently owned by Italian-American company DiBenedetto AS Roma LLC, headed by James Pallotta, who "is expected to continue as president even if Al Qaddumi purchases a significant percentage of the club's shares." Al Qaddumi said, "I've always been a big Roma fan and always intended to invest in Italy. I love this country, and I feel 100% Italian and want to stay here" (ISPORTCONNECT, 2/25). BLOOMBERG's Alex Duff reported AS Roma SpA's stock rose 9.7% after the football team said that "U.S. investors, who own a controlling stake reached a preliminary agreement." The shares closed at €53.8 ($70.8) Friday, "their highest since Sept. 26" (BLOOMBERG, 2/22).