Roma set for petrol dollars investment - report

22 February 2013 06:16

Shares in AS Roma rose over 10 percent on Friday amid rumours the Serie A club, owned by American James Pallotta, is set to benefit from heavy investment from a Gulf multi-millionaire.

ANSA news agency reported the capital club will receive two investments of up to 50m euros that would see Sheikh Adnan Adel Aref al Qaddumi al Shtewi become an official stakeholder before the end of March.

The investment, according to ANSA, would prompt a board shake-up that would see Pallotta -- part owner with Thomas Di Benedetto and Richard D'Amore -- become the outright owner with a stake of 50-60 percent.

A brief statement issued by the club said the "potential entry is part of the already-announced strategy of expansion of the commercial activities controlled by AS Roma SpA in new markets and with new investors".

It is believed the investment would primarily be used to help construct a new stadium. Roma currently share the Olympic stadium with fellow Serie A side Lazio.

Source: AFP