Friedkin signed the deal on Thursday ahead of the expected takeover that is estimated to be completed by the end of August.
"I am pleased to confirm we have reached an agreement with The Friedkin Group for the sale of AS Roma," former owner James Pallotta said.
"We have signed the contracts tonight and, over the coming days, will now work together to complete the formal and legal process that will result in the club changing hands."
Friedkin is worth a reported $4.2-billion in net worth according to Forbes, as the owner of Gulf States Toyota that sold an estimated $9-billion worth of Toyotas in 2018 alone.
Clarence Seedorf - Japanese restaurant called 'Fingers'
Andrea Pirlo owns the Pratum Coller winery
Andres Iniesta - Bodega wines
Oliver Khan - Goalplay Application
Cristiano Ronaldo - CR7 fashion, cologne, underwear and hotels
Gerard Pique - Kerad Games company and shares in Bas Alimentaria meat industry
David Beckham - Self marketing empire with various branded businesses & club owner
Zlatan Ibrahimovic started his own mobile game and clothing business called A - Z
Genarro Gatusso owns a fish shop and restaurant
Phillip Lahm - Schneekoppe food, Sixtus health care and shares in German sports lottery
Rio Ferdinand owns a restaurant, clothing line and magazine.
Mathieu Flamini: Co-owner of GF Biochemicals now worth $28-billion.