Pallotta does not discount: double no to Friedkin


Pallotta does not sell Roma. At least not under the conditions that have arisen so far. And by now we mean from the day the pandemic started to today. The negotiation for the transfer of ownership of the Giallorossi company from one parallel to the other of the United States of America in recent weeks had restarted the engines, never completely off, as confirmed on these columns since late February, when it already seemed black on white instead, it had run aground due to the global health emergency.

It is difficult to quantify the exact march intensity, but what is certain is that with the restart, albeit prudent in the world, the deal on the Boston (Massachusetts) -Houston (Texas) axis had also taken on a certain shape. The parties would have to update themselves as soon as the health emergency had subsided and the scenarios would have become clearer. And so it was. With infinite due diligence, or to be redone, it is obvious that it is because the international economy “simply” changed between one phase and another of the operation.

Going in order, at the beginning of May Friedkin tried to go back to reignite the deal with an offer (quite less than 500 million) deemed too low by Pallotta, who, although he seemed convinced by the strategy, to which his partners also pushed him , to sell lower but by stopping losses (the so-called stop loss), it is reasonable to think that you will not accept offers lower than 500 million. Indeed, it will certainly take something more, also because within the price there is a consolidated debt of 278 million euros.

In the last few days Dan and Ryan, the son of the Californian magnate based in Texas, have tried to knock on James’s door again, approaching with a “closed” offer, almost to be taken or left in these times, to 500 million for the part due to Pallotta and shareholders and that necessary to cover the debt. In detail, from Houston they made it known that they are ready to cover, in addition to that figure, the recapitalization with an injection of 20 million immediately (useful to immediately cope with the rich amount of engagements that Roma has), to which follow another 65 million tranche.

It is no coincidence that the slight rise in the offer came in conjunction with the new wind that led the government to turn the green light back on at the Serie A championship. Pallotta thought about it for a long time, but said no. Because he does not want to sell off, especially now that football is about to restart, aware, however, that the steps that should unlock the stadium project by the summer (which Friedkin is also very fond of, of course) will play in his favor. (…)

SOURCE: The Romanist – G. Fasan

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