Roma owners planning to raise funds for $1-billion stadium project

AS Roma owner and president James Pallotta is looking to raise funds for the construction of a $1-billion stadium and entertainment complex by attracting strategic equity investors and partners, according to Tariq Panja of Bloomberg.

Pallotta, the largest shareholder of Roma's investor group, is reportedly meeting with three banks in London next week as he looks to fund stadium plans that are in the final stages of a lengthy approval process.

"We have to have an equity investor and partner to build the stadium," Pallotta told Bloomberg. "Roma will be doing a raise for equity internally as well as externally for a strategic partner.

While the report indicated that Pallotta might consider raising funds by selling €75 million ($84.3M) in equity - his ownership group controls 82 percent of the club, valued at €358 million by KPMG - Roma's official website put out a statement claiming no such sale was considered.

"Regarding the story about the club published by Bloomberg on Thursday, AS Roma denies the suggestion that the current ownership is looking to sell a part of its stake in the club," the club wrote on its official website.

"While speaking with the reporter of the story, Roma president James Pallotta stated that he was not looking for new investors in the club despite regularly receiving expressions of interest from the international financial community.

"The president also specified to the journalist that, once the club's Stadio della Roma - Tor di Valle project receives final approval, new capital will be raised both from within the current ownership and from external sources in order to finance the building of the new stadium."

With successful approval and construction of the new complex, the club's value could rise to an estimated €2 billion. But the approval process has proved to be a burden, despite the city's mayor backing the project.

Pallotta said: "Roma is essentially moving along and we expect to get approval within 180 days."

(Mockups courtesy: stadiodellaroma.com)