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[VIDEO] New owner, new dawn for AS Roma

A new era could begin at AS Roma as American billionaire Dan Friedkin has signed a deal worth more than $700 million to purchase the Italian club.

Friedkin owned Texas-based Friedkin Group and they have sign a transaction valued at 591 million euros.

It is the first involvement in a major sports club for the Friedkin group which encompasses a consortium of automotive, hospitality, entertainment, golf and adventure companies.

These include Imperative Entertainment, described by the Friedkin Group as an “innovative entertainment studio” based in California.

Dan Friedkin himself made his debut as a director last year with the film Lyrebird.

“We look forward to closing the purchase as soon as possible and immersing ourselves in the AS Roma family,” Friedkin said in a statement on the club website.

Current president and Roma owner James Pallotta said the takeover process will be completed in the coming days.

“Over the last month, Dan and Ryan Friedkin have demonstrated their total commitment to finalizing this deal and taking the club forward in a positive way. I am sure they will be great future owners for AS Roma,” he said.

Palotta is an American businessman of Italian descent. He bought AS Roma in 2012.

During his eight-year tenure, Roma underwent eight different coaches, all failed to bring home a single Serie A title to Olimpico.

The highest Roma could finished was runners-up twice under manager Rudi Garcia in 2014 and 2015 while another runner-up position achieved under Luciano Spalletti.

In Champions League football, they could only reached semi-finals once in 2017-18 season.