There are reports that Manchester City owners City Group have struck a deal to purchase Serie B side Palermo for €13m plus add-ons, already planning the new staff in a push for promotion.
Sky Sport Italia had already stated yesterday that a crunch meeting was held with current patron Dario Mirri to agree basic terms.
Now Mediagol via Gazzetta dello Sport provide more details on the agreement, which includes Mirri remaining as a minority shareholder with 20 per cent of the club.
The cost of the operation is believed to be €13m plus circa €2m in add-ons and performance-related bonuses, based on promotion to Serie A.
Palermo went bankrupt in 2019 and had to start again from semi-professional Serie D.
Last week they won the Serie C promotion play-offs, so will be in Serie B for the 2022-23 campaign.
City Group are already planning for the future, with Leandro Rinaudo probably promoted from the youth academy to director of sport with Giorgio Zamuner, while Giovanni Gardini should replace Rinaldo Sagramola as CEO.
Coach Silvio Baldini still has one more season left on his contract and should remain.
CESSIONE PALERMO, È FATTA CON IL CITY GROUP: CIFRE, DETTAGLI E CASTING DS https://t.co/h7dXhhvniH
— Mediagol Palermo (@Mediagol) June 16, 2022
Good news
I love Palermo! Now what would happen if Palermo reach Serie A and get matched with Man City in the champions league 15 years from now?
Seems like we have a new future giant
Amazing they went from bankrupt ownership to potentially one of the most solid ownership groups when they get to serie a.
Crazy to think promotion next year,then battling for europe soon after.
@JUV+
A few brown envelopes should do the trick lol. They’ve served MC well so far.
You guys think that Palermo being treated like Man City, nope, Palermo become the feeder of Man City