Manchester City owners set to buy Palermo club
Palermo was able to advance from the fourth division to Serie B in the last two seasons.
City Football Group has started negotiations with this Serie B club to become the 11th club under their ownership. Palermo has struggled with many financial problems in recent years and went bankrupt in 2019 and reformed in the fourth-tier of Italian football
Goalclaimed that CFG had negotiated with the owners of the Sicilian club that the ownership would be transferred to them at the end of the season. Although the club was in Serie C, it managed to attract 31,000 fans to the stadium for the playoff match in June. Palermo has reached the final of the Coppa Italia three times and great players like Paulo Dybala, Javier Pastore and Edinson Cavani have a history of being in this team.
Goal believes that CFG will buy 80% of the club's shares by paying between 12 and 13 million euros.
But CFG has already bought the ownership of clubs such as Manchester City in England, Girona in Spain, Troyes in France, Lommel in Belgium, Melbourne City in Australia, Mumbai City in India, New York City in United States, etc. Most of the shares of this company belong to Sheikh Mansour, the owner from Abu Dhabi, and the rest of the shares belong to Silver Lake and China Media Capital.
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