Palermo have just earned promotion into Serie B and are now on the verge of completing a takeover from City Group, who also run Manchester City.
The Sicilian side went bankrupt in 2019 and was forced to start again from Serie D.
Last week they guaranteed promotion into Serie B by winning the play-offs and the future is looking rosy for the team that wears pink and black.
According to Sky Sport Italia, Palermo patron Dario Mirri had a two-hour meeting in Milan today with representatives from City Group.
They seem to be close to an agreement and the takeover should be completed over the summer.
With strong investment, the historic club could push for a return to Serie A.
City Football Group is a holding company controlled largely by the Abu Dhabi United Group, with American and Chinese investors too.
This company owns Manchester City, but also has shares in other clubs including Melbourne City FC, New York City FC, Girona, Troyes and Yokohama Marinos.
Incontro in giornata tra il presidente del @Palermofficial Mirri e un rappresentante del #CityGroup: accordo vicino https://t.co/Cko702g4ie
— Gianluca Di Marzio (@DiMarzio) June 15, 2022
A new 40.000 seater stadium and in the future CL football.
Meanwhile we’re lumped with some yank who can’t close a deal for our listed targets. RedTurd out
This company owns Manchester City, but also has shares in other clubs including Melbourne City FC, New York City FC, Girona, Troyes and Yokohama Marinos.
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Aren’t those clubs feeder clubs for Man City? If so Palermo will just be a feeder club, they won’t be bought to be competitive
Melbourne City won the Aussie A League 2021/2 and were runners up last season and nowhere before CFG ‘s takeover. NYCFC won the top League too, a club started by CFG. All CGG clubs are doing well, none of them are feeder clubs for MCFC and none of them have players that would get into the MCF side. ManCity is one of the five top clubs in the world. CFC buy in top prospects and develops them in their own clubs.
I’m not happy about foreign ownership coming in a taking over but the stability of the club ownership has been its biggest problem and whatever you say the track record of this group has been successful.
Welcome to City. The best run club in the world