Totti is discussing a management position with the Giallorossi, having not been associated with the club since 2019.
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Totti, in Milan at a Betsson Sport Club promotional event, told Sky Italia: "A return to Roma? We're talking about it.
"There are still a few details to iron out, but I can confirm we're considering it. We'll see what happens. But I won't tell you more."
Totti's comments arrive after Roma's advisor Claudio Ranieri confirmed contact with the former Giallorossi captain last month.