February 27 – Serie A club AS Roma have announced a “preliminary agreement” with an Italian-based sheikh for a reported investment of between €50m and €100m– but doubts have been raised about his ability to raise the necessary funds.
Sheikh Adnan Adel Aref al Qaddumi al Shtewi is reported to have been born in Jordan, had his origins in Qatar and to have lived in Italy for 25 years.
Roma are owned by Italian-American company DiBenedetto AS Roma LLC, with James Pallotta as president. In December the owners announced plans to build a stadium by the start of 2016-17 season.
A statement confirmed that agreement had been reached that would allow Al Qaddumi to enter “directly or indirectly” into the club.
“(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.”
Al Qaddumi’s potential investment is seen as a means of helping to finance the new stadium but reports in Italy said the club had issued a March 14 deadline for any investment to come through. Meanwhile the club confirmed they were in a period of due diligence in which Al Qaddumi’s finances were being assessed.
In a lengthy interview with Il Tempo magazine, Al Qaddumi expressed his love of all things Italian. “I came to Italy in 1980 to study at the University of Perugia,” he said. “I was very rich and my father sent me thousands of dollars a month so I could lead a happy life.
“The following year I met my wife and fell in love but my family did not take well to her and closed off my resources. That’s why I ended up working as a bartender and as a painter.”
With oil companies in Italy and Canada, Al Qaddumi said he first approached Roma two years ago. “I’ve always been a big Roma fan and always intended to invest in Italy. I love this country and I feel 100% Italian and want to stay here.”
Roma are still partly owned by the Unicredit bank as part of the deal that saved the club from bankruptcy under a previous regime and Vice-Director General Paolo Fiorentina said Al Qaddumi had to prove he had the money.
“Without money, it will all disappear,” Fiorentina said. “Perhaps this move will have to be dragged out for a little longer. We might be wrong, but we do have some doubts on the consistency of his funds.”
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