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James Pallotta

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Revision as of 23:50, 8 February 2022 by Moxy (talk | contribs) (→top: as per tlak)(diff) ← Previous revision | Latest revision (diff) | Newer revision → (diff) American billionaire businessman (born 1958)

James Pallotta
BornJames Joseph Pallotta
(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
Partner, Tudor Investment Corporation
Chairman & major shareholder, A.S. Roma
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

  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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