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Pallotta, along with three other American investors ([[Thomas R. DiBenedetto]], Michael Ruane and Richard D'Amore) acquired Serie A football club A.S. Roma in 2011.<ref>{{Cite web|url=http://www.espn.com/sports/soccer/news/_/id/7250811/as-roma-new-us-owner-thomas-dibenedetto-reveals-ambitious-plans|title=Roma's new owner reveals broad plans|access-date=January 13, 2017|archive-url=https://web.archive.org/web/20170118043601/http://www.espn.com/sports/soccer/news/_/id/7250811/as-roma-new-us-owner-thomas-dibenedetto-reveals-ambitious-plans|archive-date=January 18, 2017|url-status=live}}</ref>
Pallotta, along with three other American investors ([[Thomas R. DiBenedetto]], Michael Ruane and Richard D'Amore) acquired Serie A football club A.S. Roma in 2011.<ref>{{Cite web|url=http://www.espn.com/sports/soccer/news/_/id/7250811/as-roma-new-us-owner-thomas-dibenedetto-reveals-ambitious-plans|title=Roma's new owner reveals broad plans|access-date=January 13, 2017|archive-url=https://web.archive.org/web/20170118043601/http://www.espn.com/sports/soccer/news/_/id/7250811/as-roma-new-us-owner-thomas-dibenedetto-reveals-ambitious-plans|archive-date=January 18, 2017|url-status=live}}</ref>


After becoming one of the owners in 2011<ref>{{Cite web|title=American Pallotta out to turn AS Roma into a 21st-century empire|url=https://www.asroma.com/en/news/2013/8/american-pallotta-out-to-turn-as-roma-into-a-21st-century-empire|access-date=2022-02-06|website=www.asroma.com|language=en}}</ref>, in August 2012, Pallotta became the chairman of club, succeeding [[Thomas R. DiBenedetto]], and becoming the 23rd in the club's history.<ref>{{cite web|url=http://www.gazzettagiallorossa.it/2012/08/gazzetta-dello-sport-pallotta-e-tua-tra-basket-e-soccer-la-scalata-di-mister-james-per-fare-grande-la-roma/|title=GAZZETTA DELLO SPORT Pallotta, è tua! Tra basket e soccer. La scalata di mister James per fare grande la Roma|last=-|date=August 28, 2012|website=gazzettagiallorossa.it|accessdate=June 19, 2019|archive-url=https://web.archive.org/web/20190401215158/http://www.gazzettagiallorossa.it/2012/08/gazzetta-dello-sport-pallotta-e-tua-tra-basket-e-soccer-la-scalata-di-mister-james-per-fare-grande-la-roma/|archive-date=April 1, 2019|url-status=live}}</ref> During Pallotta’s ownership, the club would primarily engaged in capitalizing on the sale of its players, leading AS Roma to obtain over half a billion in capital gains on player trading operations <ref>{{Cite web|last=Redazione|date=2019-10-15|title=Roma, mezzo miliardo in plusvalenze nell'era Pallotta|url=https://www.calcioefinanza.it/2019/10/15/roma-plusvalenze-pallotta-cessioni-giocatori/|access-date=2022-02-06|website=Calcio e Finanza|language=it-IT}}</ref>, which earned Pallotta the nickname of “King of capital gains”. <ref>{{Cite web|title=Roma, Pallotta è il re delle plusvalenze|url=https://www.calciomercato.com/news/roma-pallotta-e-il-re-delle-plusvalenze-38409|access-date=2022-02-06|website=Calciomercato.com {{!}} Tutte le news sul calcio in tempo reale|language=it}}</ref> This financial approach to football, coupled with one of AS Roma's longest period without winning any trophies <ref>{{Cite web|title=Roma, monta la rabbia contro la società e Pallotta|url=https://www.gazzetta.it/Calcio/Serie-A/Roma/07-06-2020/roma-monta-protesta-contro-societa-pallotta-3701622651183.shtml|access-date=2022-02-06|website=La Gazzetta dello Sport|language=it-IT}}</ref>, as well as what many considered an undeserved dismissal of AS Roma icons [[Francesco Totti]] and [[Daniele De Rossi]] <ref>{{Cite web|title=Roma, Pallotta-Petrachi sotto l’assedio dei tifosi|url=https://www.gazzetta.it/Calcio/Serie-A/Roma/15-06-2020/roma-pallotta-petrachi-tifosi-3701837775506.shtml|access-date=2022-02-06|website=La Gazzetta dello Sport|language=it-IT}}</ref> <ref>{{Cite web|date=2019-05-15|title=Caso De Rossi, striscioni e minacce ultrà contro Pallotta: «Pija er cortello». E sui social compare una lapide|url=https://www.ilmessaggero.it/sport/calcio/de_rossi_ritiro_striscioni_roma_pallotta-4492821.html|access-date=2022-02-06|website=www.ilmessaggero.it|language=it}}</ref>, lead to a serious clash with the fans and the only worldwide protest in AS Roma history, with disapproving banners in several remote parts of the world. <ref>{{Cite web|title=Roma, protesta mondiale: striscioni contro Pallotta dall'Eur a New York - Sportmediaset|url=https://www.sportmediaset.mediaset.it/calcio/roma/roma-protesta-mondiale-striscioni-contro-pallotta-dall-eur-a-new-york_1276021-201902a.shtml|access-date=2022-02-06|website=Sportmediaset.it|language=IT}}</ref> <ref>{{Cite web|date=2019-05-17|title=Addio De Rossi, la protesta è mondiale: da New York a Sydney tifosi in coro «Pallotta vattene»|url=https://www.ilmessaggero.it/sport/calcio/addio_de_rossi_la_protesta_mondiale_da_new_york_sydney_tifosi_coro_pallotta_vattene-4497467.html|access-date=2022-02-06|website=www.ilmessaggero.it|language=it}}</ref>
After becoming one of the owners in 2011<ref>{{Cite web|title=American Pallotta out to turn AS Roma into a 21st-century empire|url=https://www.asroma.com/en/news/2013/8/american-pallotta-out-to-turn-as-roma-into-a-21st-century-empire|access-date=2022-02-06|website=www.asroma.com|language=en}}</ref>, in August 2012, Pallotta became the chairman of club, succeeding [[Thomas R. DiBenedetto]], and becoming the 23rd in the club's history.<ref>{{cite web|url=http://www.gazzettagiallorossa.it/2012/08/gazzetta-dello-sport-pallotta-e-tua-tra-basket-e-soccer-la-scalata-di-mister-james-per-fare-grande-la-roma/|title=GAZZETTA DELLO SPORT Pallotta, è tua! Tra basket e soccer. La scalata di mister James per fare grande la Roma|last=-|date=August 28, 2012|website=gazzettagiallorossa.it|accessdate=June 19, 2019|archive-url=https://web.archive.org/web/20190401215158/http://www.gazzettagiallorossa.it/2012/08/gazzetta-dello-sport-pallotta-e-tua-tra-basket-e-soccer-la-scalata-di-mister-james-per-fare-grande-la-roma/|archive-date=April 1, 2019|url-status=live}}</ref> During Pallotta’s ownership, the club would primarily engage in capitalizing on the sale of its players, leading AS Roma to obtain over half a billion in capital gains on player trading operations <ref>{{Cite web|last=Redazione|date=2019-10-15|title=Roma, mezzo miliardo in plusvalenze nell'era Pallotta|url=https://www.calcioefinanza.it/2019/10/15/roma-plusvalenze-pallotta-cessioni-giocatori/|access-date=2022-02-06|website=Calcio e Finanza|language=it-IT}}</ref>, which earned Pallotta the nickname of “King of capital gains”. <ref>{{Cite web|title=Roma, Pallotta è il re delle plusvalenze|url=https://www.calciomercato.com/news/roma-pallotta-e-il-re-delle-plusvalenze-38409|access-date=2022-02-06|website=Calciomercato.com {{!}} Tutte le news sul calcio in tempo reale|language=it}}</ref> This financial approach to football, coupled with one of AS Roma's longest period without winning any trophies <ref>{{Cite web|title=Roma, monta la rabbia contro la società e Pallotta|url=https://www.gazzetta.it/Calcio/Serie-A/Roma/07-06-2020/roma-monta-protesta-contro-societa-pallotta-3701622651183.shtml|access-date=2022-02-06|website=La Gazzetta dello Sport|language=it-IT}}</ref>, as well as what many considered an undeserved dismissal of AS Roma icons [[Francesco Totti]] and [[Daniele De Rossi]] <ref>{{Cite web|title=Roma, Pallotta-Petrachi sotto l’assedio dei tifosi|url=https://www.gazzetta.it/Calcio/Serie-A/Roma/15-06-2020/roma-pallotta-petrachi-tifosi-3701837775506.shtml|access-date=2022-02-06|website=La Gazzetta dello Sport|language=it-IT}}</ref> <ref>{{Cite web|date=2019-05-15|title=Caso De Rossi, striscioni e minacce ultrà contro Pallotta: «Pija er cortello». E sui social compare una lapide|url=https://www.ilmessaggero.it/sport/calcio/de_rossi_ritiro_striscioni_roma_pallotta-4492821.html|access-date=2022-02-06|website=www.ilmessaggero.it|language=it}}</ref>, lead to a serious clash with the fans and the only worldwide protest in AS Roma history, with disapproving banners in several remote parts of the world. <ref>{{Cite web|title=Roma, protesta mondiale: striscioni contro Pallotta dall'Eur a New York - Sportmediaset|url=https://www.sportmediaset.mediaset.it/calcio/roma/roma-protesta-mondiale-striscioni-contro-pallotta-dall-eur-a-new-york_1276021-201902a.shtml|access-date=2022-02-06|website=Sportmediaset.it|language=IT}}</ref> <ref>{{Cite web|date=2019-05-17|title=Addio De Rossi, la protesta è mondiale: da New York a Sydney tifosi in coro «Pallotta vattene»|url=https://www.ilmessaggero.it/sport/calcio/addio_de_rossi_la_protesta_mondiale_da_new_york_sydney_tifosi_coro_pallotta_vattene-4497467.html|access-date=2022-02-06|website=www.ilmessaggero.it|language=it}}</ref>


In December 2019, Pallotta was in final negotiations to sell the team for $872 million, to American businessman [[Dan Friedkin]].
In December 2019, Pallotta was in final negotiations to sell the team for $872 million, to American businessman [[Dan Friedkin]].

Revision as of 23:35, 6 February 2022

James Pallotta
Born
James Joseph Pallotta[1]

(1958-03-13) March 13, 1958 (age 66)
Stoneham, Massachusetts, U.S.
Alma materUniversity Of Massachusetts (BBA)
Northeastern University (MBA)
OccupationBusinessman
Known forChairman and MD, Raptor Group[citation needed]
Partner, Tudor Investment Corporation[2]
Chairman & major shareholder, A.S. Roma
Shareholder, Boston Basketball Partners[3]

James Joseph Pallotta (born March 13, 1958) is an American millionaire businessman.[5] In 2009, he founded Raptor Group, a private investment company.[citation needed] Prior to forming Raptor, Pallotta was vice chairman at Tudor Investment Corporation. He was co-owner and chairman of the Italian football club A.S. Roma from 2011 to 2020[6]; co-owner and executive board member of the National Basketball Association's Boston Celtics,[7] and co-owner of esports franchise Fnatic.[8]

Early life

Pallotta was born in 1958 in Boston to a mother from Canosa di Puglia, Apulia and a father from Calabria, Italy. Along with sisters Carla and Christine Pallotta, he was raised in Boston's Italian north end neighborhood. His sisters own and operate NEBO Cucina & Enoteca in Boston's financial district.[9] Pallotta earned a BBA at University of Massachusetts Amherst and an MBA at Northeastern University.[citation needed]

Professional background

Raptor Group

Pallotta founded Raptor Group, a private investment company with offices in Boston, New York City, Miami, London, and Abu Dhabi. Raptor focuses on various industries including sports, consumer, technology, media, entertainment, and financial services.[citation needed]

A.S. Roma

Pallotta, along with three other American investors (Thomas R. DiBenedetto, Michael Ruane and Richard D'Amore) acquired Serie A football club A.S. Roma in 2011.[10]

After becoming one of the owners in 2011[11], in August 2012, Pallotta became the chairman of club, succeeding Thomas R. DiBenedetto, and becoming the 23rd in the club's history.[12] During Pallotta’s ownership, the club would primarily engage in capitalizing on the sale of its players, leading AS Roma to obtain over half a billion in capital gains on player trading operations [13], which earned Pallotta the nickname of “King of capital gains”. [14] This financial approach to football, coupled with one of AS Roma's longest period without winning any trophies [15], as well as what many considered an undeserved dismissal of AS Roma icons Francesco Totti and Daniele De Rossi [16] [17], lead to a serious clash with the fans and the only worldwide protest in AS Roma history, with disapproving banners in several remote parts of the world. [18] [19]

In December 2019, Pallotta was in final negotiations to sell the team for $872 million, to American businessman Dan Friedkin. [20] In August 2020, Friedkin signed the preliminary contract to agree to pay $591 million to Pallotta, the main shareholder of Roma.[21] As the club's balance sheets later revealed, AS Roma had tremendous debt and seriously risked bankruptcy before having to be transferred to a new ownership in 2020. [22] [23] [24]

Tudor Investment Corporation

Prior to Raptor Group, Pallotta was a vice chairman and partner at Tudor Investment Corporation.

Initiatives

Pallotta is a member of the board of trustees for the Santa Fe Institute[25] and the Board of Trustees for Northeastern University.[26] Pallotta serves on the Board of Directors for New Profit Inc.[27] as well as the Board of Advisors for Tulco, LLC.[28] He is also a member of the Advisory Council for the MIT Media Lab[29] and the External Advisory Committee for the Center for Brains, Minds and Machines (CBMM) at MIT.[30]

References

  1. ^ "ASSEMBLEA STRAORDINARIA DEGLI AZIONISTI" (PDF) (Press release). A.S. Roma. March 1, 2014. Archived from the original (PDF) on August 20, 2014. Retrieved September 20, 2014.
  2. ^ www.bloomberg.com https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=92002. Retrieved June 19, 2019. {{cite web}}: Missing or empty |title= (help)
  3. ^ http://publogix.com/e/1617-bcyb/#/ Archived May 25, 2017, at the Wayback Machine Boston Celtics 2016–17 Year Book
  4. ^ "AffluenceIQ 50 Richest in Massachusetts". www.affluenceiq.com. Archived from the original on September 23, 2018. Retrieved June 19, 2019.
  5. ^ "The 50 Wealthiest Bostonians". Boston Magazine. May 15, 2006. Archived from the original on November 28, 2016. Retrieved November 11, 2016.
  6. ^ "American Pallotta out to turn AS Roma into a 21st-century empire". www.asroma.com. Retrieved February 6, 2022.
  7. ^ Straus, Brian. "Brian Straus: American Pallotta out to turn AS Roma into a 21st-century empire". SI.com. Archived from the original on November 12, 2016. Retrieved November 11, 2016.
  8. ^ Heitner, Darren (April 10, 2017). "Fnatic Esports Brand Receives Over $7 Million In Financing". Forbes. Archived from the original on December 9, 2017. Retrieved December 8, 2017.
  9. ^ Blumenthal, Rachel Leah (January 18, 2013). "Nebo Owners Carla and Christine Pallotta". Eater Boston. Archived from the original on November 4, 2016. Retrieved November 3, 2016.
  10. ^ "Roma's new owner reveals broad plans". Archived from the original on January 18, 2017. Retrieved January 13, 2017.
  11. ^ "American Pallotta out to turn AS Roma into a 21st-century empire". www.asroma.com. Retrieved February 6, 2022.
  12. ^ - (August 28, 2012). "GAZZETTA DELLO SPORT Pallotta, è tua! Tra basket e soccer. La scalata di mister James per fare grande la Roma". gazzettagiallorossa.it. Archived from the original on April 1, 2019. Retrieved June 19, 2019. {{cite web}}: |last= has numeric name (help)
  13. ^ Redazione (October 15, 2019). "Roma, mezzo miliardo in plusvalenze nell'era Pallotta". Calcio e Finanza (in Italian). Retrieved February 6, 2022.
  14. ^ "Roma, Pallotta è il re delle plusvalenze". Calciomercato.com | Tutte le news sul calcio in tempo reale (in Italian). Retrieved February 6, 2022.
  15. ^ "Roma, monta la rabbia contro la società e Pallotta". La Gazzetta dello Sport (in Italian). Retrieved February 6, 2022.
  16. ^ "Roma, Pallotta-Petrachi sotto l'assedio dei tifosi". La Gazzetta dello Sport (in Italian). Retrieved February 6, 2022.
  17. ^ "Caso De Rossi, striscioni e minacce ultrà contro Pallotta: «Pija er cortello». E sui social compare una lapide". www.ilmessaggero.it (in Italian). May 15, 2019. Retrieved February 6, 2022.
  18. ^ "Roma, protesta mondiale: striscioni contro Pallotta dall'Eur a New York - Sportmediaset". Sportmediaset.it (in Italian). Retrieved February 6, 2022.
  19. ^ "Addio De Rossi, la protesta è mondiale: da New York a Sydney tifosi in coro «Pallotta vattene»". www.ilmessaggero.it (in Italian). May 17, 2019. Retrieved February 6, 2022.
  20. ^ "U.S. Billionaire Nears Purchase of AS Roma Soccer Club". Bloomberg L.P. December 29, 2019. Retrieved December 31, 2019.
  21. ^ "Official statement regarding the ownership of AS Roma". A.S. Roma. August 6, 2020. Retrieved August 6, 2020.
  22. ^ "Roma, il piano di Friedkin: Allegri più Paratici". www.ilmessaggero.it (in Italian). September 21, 2020. Retrieved February 6, 2022.
  23. ^ "Roma, Pallotta, tre secondi posti e 300 milioni di debiti: rivoluzione mancata". La Gazzetta dello Sport (in Italian). Retrieved February 6, 2022.
  24. ^ "Roma, ecco il piano Friedkin per cancellare i debiti di Pallotta". Calciomercato.com | Tutte le news sul calcio in tempo reale (in Italian). Retrieved February 6, 2022.
  25. ^ Marshall, Jenna. "Manager of Communications". Santa Fe Institute.
  26. ^ "Members of the Board of Trustees". Northeastern University. Archived from the original on January 23, 2018. Retrieved January 22, 2018.
  27. ^ "New Profit Leadership Team". New Profit. Archived from the original on December 28, 2017. Retrieved January 22, 2018.
  28. ^ "Team". Tulco. Archived from the original on January 23, 2018. Retrieved January 22, 2018.
  29. ^ "Advisory Council". MIT Media Lab.
  30. ^ "External Advisory Committee". CBMM External Advisory Committee. Archived from the original on November 24, 2017. Retrieved December 8, 2017.
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