According to the latest reports, negotiations are moving into the next stage for Manchester City’s owners to purchase Serie C side Palermo.
Sky Sport Italia had noted last week that there was interest from the City Football Group.
Now the Corriere dello Sport adds that there has been an informal meeting in which they discussed the cost that would be required to purchase the side.
It is believed to be just under €10m for the Sicilian club, which was forced to begin again from Serie D after bankruptcy in 2019.
The discussions are still reported to be in the very early stages and a long way off completion at this point.
Palermo had been regulars in Serie A, most recently dropping down from the top flight in the summer of 2017.
City Football Group already have investment in 10 clubs around the world, including Troyes in France and Girona in Spain, although clearly Manchester City are the flagship of the group.
Why?
Strong brand. Business decision.
5th largest city in the country, behind Tornio and ahead of Genoa, both which have 2 teams.
lots of synergies there as well having multiple teams across the continent and in the US, Australia etc. Tons of potential for growth (MLSE which owns Toronto FC) should have purchased them. Develop players in MLS and sell them to yourself in Europe, much like Saputo does with Montreal and Bologna. Just brilliant.