The former captain hasn't been involved with the Giallorossi for several years after having a stint as an assistant sporting director.
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Tension existed between Totti and the club's former directors, but matters have since thawed.
And former Roma coach and current club advisor, Claudio Ranieri, confirmed this morning: "They're thinking about it.
"I hope Francesco can be truly useful to Roma, because he's part of Roma."
Totti played his entire career with Roma, winning the Scudetto once and the Coppa Italia twice.