Palermo President Maurizio Zamparini confirmed Frank Cascio “sent an offer two days ago” to buy the club, but he’s “in very advanced talks” with a Chinese group too.
It looks to be another chaotic season for the Rosanero, as Coach Davide Ballardini resigned after just two games and Roberto De Zerbi is expected to take the job.
Palermo President Maurizio Zamparini confirmed Frank Cascio “sent an offer two days ago” to buy the club, but he’s “in very advanced talks” with a Chinese group too.
It looks to be another chaotic season for the Rosanero, as Coach Davide Ballardini resigned after just two games and Roberto De Zerbi is expected to take the job.
The patron has said several times he intends to sell the Sicilians to someone who can invest in their future.
“I give you a scoop, two days ago I received an offer from the American group,” Zamparini told Radio Action.
“We told our bank to perform due diligence before doing anything else. I want to understand who they are, what their finances are like and the banks supporting them.
“I am talking about Cascio’s group, who sent a letter of intents that also talks about figures and payment structures. However, before sitting around a table, we want to verify the situation.”
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“We are in very advanced talks with the Chinese group and they’ll be here in early October to view the stadium and training centre, while we will meet in Milan too. We are at an advanced stage,” continued Zamparini.
“There is €200m financing for the stadium, training centre and to fund Palermo. They are a very strong group with the Chinese State involved.
“I wouldn’t want to be the President with them, they asked me to be a consultant, as I know football very well, but they will get a President. I would also be a consultant with Cascio, for advice or anything else.
“They are already talking about November. The problem is not just that they are buying my shares, but they must also be able to invest in Palermo to make it stronger, otherwise there’s no point in me selling.
“In the meantime, I’d like to sell shares to the public, so I’d give the fans 30-35 per cent and the rest to the Chinese. I’d love to do that, but we need 20,000-30,000 fans who put in €50 per month for 20 months, place a Sicilian President in charge and keep me as an old man giving advice.”