Dan Friedkin has reportedly arrived in Italy to make the first official step towards the Roma takeover and might be at the Allianz Stadium tonight.

The Corriere dello Sport reports that the American businessman has landed in Italy to initiate the process, but it may take a few weeks until the handover becomes official.

The newspaper claims that the contracts will be signed before the end of February as Friedkin arrived in Milan with his son Ryan. Due to a huge amount of paperwork, the process will require some time to be completed.

Roma President James Pallotta called reports of his attempts to purchase Newcastle United “the usual fake news.”

He is currently in advanced negotiations to sell AS Roma to Dan Friedkin, and it had been rumoured he’d reinvest that money in a Premier League club.

The main candidates were Newcastle United, whose ownership status is often up in the air.

“It’s the usual fake news,” Pallotta told LaRoma24.it.

Roma President James Pallotta is reportedly interested in buying Newcastle United, once the sale of the Giallorossi to the Friedkin Group goes through.

Pallotta has been in talks with the Texas-based group for a number of months over selling the majority of his shares to the American company.

Talks are believed to be in the final stages, with due diligence on going.

Website Adnkronos.com report that Pallotta isn’t prepared to walk away from the world of football, despite his frustrations with running Roma.

When James Pallotta completes the sale of AS Roma to The Friedkin Group, he’ll reportedly try to purchase an English club, having grown frustrated with Italian red tape.

A statement released late last night confirmed they were “in negotiations” for the sale, but insisted reports of an imminent transfer of money was premature.

Any deal would be subject to due diligence and is said to be in the region of €790m.

Roma have released a statement denying a deal has been formalised for The Friedkin Group to purchase the club from James Pallotta, but they are "in negotiations."

There had been multiple reports all over the Italian media that the agreement had been reached for €780-790m, therefore ending Pallotta’s seven-year reign at the Stadio Olimpico.

Suggestions an initial €50m payment was going to be handed over within 48 hours proved to be premature.

Reports say The Friedkin Group could officially become Roma owners in a matter of hours.

Talks have been ongoing between the two parties for months, and both Calciomercato.com and Il Tempo write the finish line is in sight.

The Texas-based group will pay around €780m to buy the Giallorossi and take control of the Stadio della Roma project.

The Friedkin Group is reportedly on the verge of completing a €780m deal to buy Roma.

Talks have been ongoing for some time, but Il Messaggero claims an agreement between the two parties was found over the Christmas holidays.

As per the newspapers, negotiations are at a “very hot” stage, to the extent that a sale to Friedkin is “imminent”.

The Giallorossi have been owned by fellow American James Pallotta since 2012, and – for the time being – he is likely to stay on as a minority shareholder.

Paulo Fonseca confessed he wants to “stay here for a long time” and win silverware with Roma. “It’s one of the most important clubs in the world.”

The former Shakhtar Donetsk coach only joined this summer, but is already passionate about the Giallorossi cause and the feeling from fans and players is mutual.

“Results always make the decisions for us in the life of a coach, but as well as this wonderful city, I’d like to stay at a club that makes me feel at home,” he told La Gazzetta dello Sport.

President James Pallotta’s attempts to sell AS Roma to the Friedkin Group have hit a roadblock, as the two can’t agree on a price, claims Il Sole 24 Ore newspaper.

It has been speculated that Pallotta was ready to sell the club to the American company for €510m for a 51% share.

However, financial paper Il Sole 24 Ore believes that now there’s a split when it comes to the overall valuation of the club.