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{{short description|American billionaire businessman (born 1958)}} | |||
'''James Pallotta''' (], 13 March 1958), is an American entrepreneur and, since August 27, 2012, the president of the Italian football club ]. | |||
{{Use mdy dates|date=January 2018}} | |||
{{Infobox person | |||
In 2005, he had revenues over 200 million dollars in high finance, the high-risk investments, Pallotta has created in these areas his luck with a heritage that has been estimated to be more than a billion dollars.<ref>http://www.bostonmagazine.com/articles/2006/05/the-50-wealthiest-bostonians/</ref> | |||
⚫ | | name = James Pallotta | ||
| image = | |||
| alt = | |||
| caption = | |||
| birth_name = James Joseph Pallotta<ref>{{cite press release | url=http://www.asroma.it/pdf/corporate/assemblea_degli_azionisti/2014_01_03_relazione_amministratori_assemblea_31_marzo_2014.pdf | title=Assemblea Straordinaria Degli Azionisti | publisher=A.S. Roma |date=March 1, 2014| accessdate=September 20, 2014|archiveurl=https://web.archive.org/web/20140820221015/http://www.asroma.it/pdf/corporate/assemblea_degli_azionisti/2014_01_03_relazione_amministratori_assemblea_31_marzo_2014.pdf|archivedate=August 20, 2014}}</ref> | |||
| birth_date = {{Birth date and age|1958|3|13}} | |||
| birth_place = ], U.S. | |||
| other_names = | |||
| alma_mater = ] (BBA)<br> ] (MBA) | |||
| occupation = Businessman | |||
| known_for = Chairman and MD, Raptor Group{{citation needed|date=August 2021}}<br/>Partner, Tudor Investment Corporation<ref>{{cite web|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=92002|website=www.bloomberg.com|accessdate=June 19, 2019|title=Stocks }}</ref><br>Shareholder, ]<ref>{{Cite web |url=http://publogix.com/e/1617-bcyb/ |title=2016-17 Boston Celtics Yearbook |access-date=June 5, 2017 |archive-date=May 25, 2017 |archive-url=https://web.archive.org/web/20170525015647/http://publogix.com/e/1617-bcyb/#/ |url-status=dead }} Boston Celtics 2016–17 Year Book</ref> | |||
| spouse = | |||
| children = | |||
| parents = | |||
| boards = | |||
⚫ | }} | ||
'''James Joseph Pallotta''' (born March 13, 1958) is an American billionaire businessman.<ref>{{Cite news|url=http://www.bostonmagazine.com/2006/05/the-50-wealthiest-bostonians/|title=The 50 Wealthiest Bostonians|date=May 15, 2006|newspaper=Boston Magazine|accessdate=November 11, 2016|archive-url=https://web.archive.org/web/20161128090330/http://www.bostonmagazine.com/2006/05/the-50-wealthiest-bostonians/|archive-date=November 28, 2016|url-status=live}}</ref> In 2009, he founded Raptor Group, a private investment company.{{citation needed|date=August 2021}} Prior to forming Raptor, Pallotta was vice chairman at Tudor Investment Corporation. He was co-owner and chairman of the Italian ] club ] from 2011 to 2020;<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> co-owner and executive board member of the National Basketball Association's ],<ref>{{Cite news|url=https://www.si.com/soccer/2013/08/12/roma-american-owner-james-pallotta|title=Brian Straus: American Pallotta out to turn AS Roma into a 21st-century empire|last=Straus|first=Brian|newspaper=SI.com|accessdate=November 11, 2016|archive-url=https://web.archive.org/web/20161112081618/http://www.si.com/soccer/2013/08/12/roma-american-owner-james-pallotta|archive-date=November 12, 2016|url-status=live}}</ref> and co-owner of esports franchise ].<ref>{{cite news|last1=Heitner|first1=Darren|title=Fnatic Esports Brand Receives Over $7 Million In Financing|url=https://www.forbes.com/sites/darrenheitner/2017/04/10/fnatic-esports-brand-receives-over-7-million-in-financing/#3b1970a72185|accessdate=December 8, 2017|agency=Forbes|date=April 10, 2017|archive-url=https://web.archive.org/web/20171209044246/https://www.forbes.com/sites/darrenheitner/2017/04/10/fnatic-esports-brand-receives-over-7-million-in-financing/#3b1970a72185|archive-date=December 9, 2017|url-status=live}}</ref> | |||
⚫ | == |
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After starting the process of sale of AS Rome, James J. Pallotta, along with three other U.S. companies, ], Michael Ruane and Richard D'Amore, decides to submit a bid for the acquisition of team ]. The Italian-American manager was already interested in the team following the failure of negotiations with ].<ref>http://www.repubblica.it/sport/calcio/serie-a/roma/2011/04/17/news/addio_speranze_champions-15054876/index.html?ref=search</ref> On 15 February 2011 ] starts exclusive negotiations with the U.S. consortium. | |||
==Early life== | |||
On 16 April 2011, following the signing of the contracts took place in Boston, the DiBenedetto "DiBenedetto AS Roma LLC" becomes the new majority shareholder of ]. Under the agreement, the consortium will acquire 60% of Italy's capitol club, leaving the remaining 40% in the hands of Unicredit, which reserves the right to transfer it to Italian entrepreneurs in the first quarter of 2012. On 27 October 2011 officially joined the board of directors of ] and the executive committee of the same. Since August 27, 2012, he is the president of the Italian football club ], the 23rd of the club's history after ].<ref>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/</ref> | |||
Pallotta was born in 1958 in ] to a mother from ], ] and a father from ], Italy. Along with sisters Carla and Christine Pallotta, he was raised in Boston's Italian ] neighborhood. His sisters own and operate NEBO Cucina & Enoteca in Boston's financial district.<ref>{{Cite web|url=http://boston.eater.com/2013/1/18/6493311/nebo-owners-carla-and-christine-pallotta|title=Nebo Owners Carla and Christine Pallotta|last=Blumenthal|first=Rachel Leah|date=January 18, 2013|website=Eater Boston|accessdate=November 3, 2016|archive-url=https://web.archive.org/web/20161104080117/http://boston.eater.com/2013/1/18/6493311/nebo-owners-carla-and-christine-pallotta|archive-date=November 4, 2016|url-status=live}}</ref> Pallotta earned a BBA at ] and an MBA at ].{{citation needed|date=December 2019}} | |||
==Professional background== | |||
The new company has planned a complete ] and ] the company from ]. | |||
===Raptor Group=== | |||
Pallotta founded Raptor Group, a private investment company with offices in Boston, New York City, Miami, London, and ]. Raptor focuses on various industries including sports, consumer, technology, media, entertainment, and financial services.{{citation needed|date=December 2019}} | |||
⚫ | ===A.S. Roma=== | ||
Pallotta, along with three other American investors (], 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 ], 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|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|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 ] and ],<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 ]. | |||
<ref> | |||
{{cite news | |||
| title = U.S. Billionaire Nears Purchase of AS Roma Soccer Club | |||
| url = https://www.bloomberg.com/news/articles/2019-12-29/u-s-billionaire-friedkin-nears-buying-as-roma-soccer-club | |||
| date = December 29, 2019 | |||
| work = ] | |||
| accessdate = December 31, 2019}} | |||
</ref> In August 2020, Friedkin signed the preliminary contract to agree to pay $591 million to Pallotta, the main shareholder of Roma.<ref> | |||
{{cite news | |||
| title = Official statement regarding the ownership of AS Roma | |||
| url = https://www.asroma.com/en/news/2020/8/official-statement-regarding-the-ownership-of-as-roma | |||
| date = August 6, 2020 | |||
| work = ] | |||
| accessdate = August 6, 2020}} | |||
</ref> 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.<ref>{{Cite web|date=2020-09-21|title=Roma, il piano di Friedkin: Allegri più Paratici|url=https://www.ilmessaggero.it/sport/calcio/il_piano_di_friedkin_allegri_piu_paratici_per_la_nuova_roma-5474813.html|access-date=2022-02-06|website=www.ilmessaggero.it|language=it}}</ref><ref>{{Cite web|title=Roma, Pallotta, tre secondi posti e 300 milioni di debiti: rivoluzione mancata|url=https://www.gazzetta.it/Calcio/Serie-A/Roma/06-08-2020/pallotta-tre-secondi-posti-300-milioni-debiti-rivoluzione-mancata-380951031599.shtml|access-date=2022-02-06|website=La Gazzetta dello Sport|language=it-IT}}</ref><ref>{{Cite web|title=Roma, ecco il piano Friedkin per cancellare i debiti di Pallotta|url=https://www.calciomercato.com/news/roma-ecco-il-piano-friedkin-per-cancellare-i-debiti-di-pallotta-41879|access-date=2022-02-06|website=Calciomercato.com {{!}} Tutte le news sul calcio in tempo reale|language=it}}</ref> | |||
===Tudor Investment Corporation=== | |||
Prior to Raptor Group, Pallotta was a vice chairman and partner at ]. | |||
==Initiatives== | |||
Pallotta is a member of the board of trustees for the ]<ref>{{cite web|last1=Marshall|first1=Jenna|title=Manager of Communications|url=https://www.santafe.edu/news-center/news/two-new-trustees-elected-sfis-board-2017|website=Santa Fe Institute}}</ref> and the board of trustees for ].<ref>{{cite web|title=Members of the Board of Trustees|url=https://www.northeastern.edu/neuhome/about/trustees.html|website=Northeastern University|accessdate=January 22, 2018|archive-url=https://web.archive.org/web/20180123072749/https://www.northeastern.edu/neuhome/about/trustees.html|archive-date=January 23, 2018|url-status=live}}</ref> Pallotta serves on the board of directors for ]<ref>{{cite web|title=New Profit Leadership Team|url=http://www.newprofit.org/about-us/the-team/|website=New Profit|accessdate=January 22, 2018|archive-url=https://web.archive.org/web/20171228033243/http://www.newprofit.org/about-us/the-team/|archive-date=December 28, 2017|url-status=live}}</ref> as well as the board of advisors for Tulco, LLC.<ref>{{cite web|title=Team|url=http://dev.gobrightmarketing.com/tulco/index.php/team|website=Tulco|accessdate=January 22, 2018|archive-url=https://web.archive.org/web/20180123072835/http://dev.gobrightmarketing.com/tulco/index.php/team|archive-date=January 23, 2018|url-status=dead}}</ref> He is also a member of the advisory council for the ]<ref>{{cite web|title=Advisory Council|url=https://www.media.mit.edu/people/?filter=advisory-council|website=MIT Media Lab}}</ref> and the external advisory committee for the Center for Brains, Minds and Machines (CBMM) at MIT.<ref>{{cite web|url=https://cbmm.mit.edu/about/external-advisory-committee|title=External Advisory Committee|website=CBMM External Advisory Committee|access-date=December 8, 2017|archive-url=https://web.archive.org/web/20171124031538/http://cbmm.mit.edu/about/external-advisory-committee|archive-date=November 24, 2017|url-status=live}}</ref> | |||
== References == | == References == | ||
{{Reflist}} | {{Reflist|30em}} | ||
{{Persondata <!-- Metadata: see ]. --> | |||
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| ALTERNATIVE NAMES = | |||
| SHORT DESCRIPTION = Football executive | |||
| DATE OF BIRTH = 13 March 1958 | |||
| PLACE OF BIRTH = Boston, Massachusetts | |||
| DATE OF DEATH = | |||
| PLACE OF DEATH = | |||
⚫ | }} | ||
{{DEFAULTSORT:Pallotta, James}} | {{DEFAULTSORT:Pallotta, James}} | ||
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Latest revision as of 14:54, 23 September 2024
American billionaire businessman (born 1958)
James Pallotta | |
---|---|
Born | James Joseph Pallotta (1958-03-13) March 13, 1958 (age 66) Stoneham, Massachusetts, U.S. |
Alma mater | University Of Massachusetts (BBA) Northeastern University (MBA) |
Occupation | Businessman |
Known for | Chairman and MD, Raptor Group Partner, Tudor Investment Corporation Shareholder, Boston Basketball Partners |
James Joseph Pallotta (born March 13, 1958) is an American billionaire businessman. In 2009, he founded Raptor Group, a private investment company. 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; co-owner and executive board member of the National Basketball Association's Boston Celtics, and co-owner of esports franchise Fnatic.
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. Pallotta earned a BBA at University of Massachusetts Amherst and an MBA at Northeastern University.
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.
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.
After becoming one of the owners in 2011, in August 2012, Pallotta became the chairman of club, succeeding Thomas R. DiBenedetto, and becoming the 23rd in the club's history. 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, which earned Pallotta the nickname of “King of capital gains”. This financial approach to football, coupled with one of AS Roma's longest period without winning any trophies, as well as what many considered an undeserved dismissal of AS Roma icons Francesco Totti and Daniele De Rossi, 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.
In December 2019, Pallotta was in final negotiations to sell the team for $872 million, to American businessman Dan Friedkin. In August 2020, Friedkin signed the preliminary contract to agree to pay $591 million to Pallotta, the main shareholder of Roma. 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.
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 and the board of trustees for Northeastern University. Pallotta serves on the board of directors for New Profit Inc. as well as the board of advisors for Tulco, LLC. He is also a member of the advisory council for the MIT Media Lab and the external advisory committee for the Center for Brains, Minds and Machines (CBMM) at MIT.
References
- "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.
- "Stocks". www.bloomberg.com. Retrieved June 19, 2019.
- "2016-17 Boston Celtics Yearbook". Archived from the original on May 25, 2017. Retrieved June 5, 2017. Boston Celtics 2016–17 Year Book
- "The 50 Wealthiest Bostonians". Boston Magazine. May 15, 2006. Archived from the original on November 28, 2016. Retrieved November 11, 2016.
- "American Pallotta out to turn AS Roma into a 21st-century empire". www.asroma.com. Retrieved February 6, 2022.
- 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.
- 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.
- 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.
- "Roma's new owner reveals broad plans". Archived from the original on January 18, 2017. Retrieved January 13, 2017.
- "American Pallotta out to turn AS Roma into a 21st-century empire". www.asroma.com. Retrieved February 6, 2022.
- "Gazzetta Dello Sport Pallotta, è tua! Tra basket e soccer. La scalata di mister James per fare grande la Roma". gazzettagiallorossa.it. August 28, 2012. Archived from the original on April 1, 2019. Retrieved June 19, 2019.
- "Roma, mezzo miliardo in plusvalenze nell'era Pallotta". Calcio e Finanza (in Italian). October 15, 2019. Retrieved February 6, 2022.
- "Roma, Pallotta è il re delle plusvalenze". Calciomercato.com | Tutte le news sul calcio in tempo reale (in Italian). Retrieved February 6, 2022.
- "Roma, monta la rabbia contro la società e Pallotta". La Gazzetta dello Sport (in Italian). Retrieved February 6, 2022.
- "Roma, Pallotta-Petrachi sotto l'assedio dei tifosi". La Gazzetta dello Sport (in Italian). Retrieved February 6, 2022.
- "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.
- "Roma, protesta mondiale: striscioni contro Pallotta dall'Eur a New York - Sportmediaset". Sportmediaset.it (in Italian). Retrieved February 6, 2022.
- "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.
- "U.S. Billionaire Nears Purchase of AS Roma Soccer Club". Bloomberg L.P. December 29, 2019. Retrieved December 31, 2019.
- "Official statement regarding the ownership of AS Roma". A.S. Roma. August 6, 2020. Retrieved August 6, 2020.
- "Roma, il piano di Friedkin: Allegri più Paratici". www.ilmessaggero.it (in Italian). September 21, 2020. Retrieved February 6, 2022.
- "Roma, Pallotta, tre secondi posti e 300 milioni di debiti: rivoluzione mancata". La Gazzetta dello Sport (in Italian). Retrieved February 6, 2022.
- "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.
- Marshall, Jenna. "Manager of Communications". Santa Fe Institute.
- "Members of the Board of Trustees". Northeastern University. Archived from the original on January 23, 2018. Retrieved January 22, 2018.
- "New Profit Leadership Team". New Profit. Archived from the original on December 28, 2017. Retrieved January 22, 2018.
- "Team". Tulco. Archived from the original on January 23, 2018. Retrieved January 22, 2018.
- "Advisory Council". MIT Media Lab.
- "External Advisory Committee". CBMM External Advisory Committee. Archived from the original on November 24, 2017. Retrieved December 8, 2017.
- 1958 births
- Living people
- People from North End, Boston
- American people of Italian descent
- People of Calabrian descent
- People of Apulian descent
- AS Roma chairmen and investors
- Businesspeople from Massachusetts
- Isenberg School of Management alumni
- University of Massachusetts Amherst alumni
- Northeastern University alumni