American billionaire eyes £300million English takeover - with Newcastle United and Leeds United under consideration
Roma owner James Pallotta is reportedly considering a move to buy Newcastle United.
Italian news outlet Adnkronos claim that Pallotta has requested information about the Magpies as he looks to mount a new venture in the sporting world.
The American – who is also involved in the running of NBA side Boston Celtics – is set to sell his majority shareholding in Roma to fellow American businessman Dan Friedkin for $872 million, but is reportedly still interested in football club ownership.
Indeed, Adnkronos claim that a £300million bid for Newcastle United could be in the works, with Pallotta having made no secret of his desire to become involved in English football.
The 61-year-old has regularly been linked with Premier League and Championship clubs, with reports in December suggesting second tier outfit Leeds United were another club being watched carefully by Pallotta.
But these fresh reports suggest that his focus is currently on Newcastle – who have seen takeover attempts from the Bin Zayed Group, GACP Sports and Amanda Staveley fall flat in recent years as Mike Ashley looks to sell the club.
Pallotta’s main business interests lie in The Raptor Group, a private investment company who are believed to be keen to expand their business portfolio.
Franco Baldini, a former assistant to Fabio Capello, is understood to be part of Pallotta’s sporting team and the report from Adnkronos suggest he is leading the fact-finding mission on Newcastle United.