The Friedkin Group, run by Houston billionaire Dan Friedkin, announced the purchase of Italian soccer club AS Roma on Monday.
The deal is worth an estimated $700 million.
The 55-year-old Friedkin, who has a master’s degree from Rice and lives in Houston, is the CEO of Gulf States Toyota Distributors. Forbes estimates his net worth at $4.1 billion.
“We are delighted to join the AS Roma family,” Friedkin said in a press release. “As one fan wrote recently, 'Take our iconic club and make it one of the greatest names in world football.