Gazzetta Dello Sport said today that City Football Group is getting ready to take over Palermo FC. The historic but poorly run club that was demoted to Serie D in 2019 won promotion to Serie C the following year. Over the weekend, they beat Calico Padova in the final of a 28-team home-and-away tournament to win promotion to Serie B.
According to the report, club president Dario Mirri met with CFG representative Giovanni Gardini in a Milan hotel to finalize a deal that could be official as soon as July 1. The article goes on to say that one of the things being talked about is whether or not Palermo’s key front office staff will stay with CFG.
Hudson River Blue first wrote about the deal on May 3, when they found out that CFG was going to buy 80% of the club for just €6 million ($6.3 million).
Palermo may have just made it into Serie B, but they were in the Europa League in 2011 and played in Serie A as recently as 2017. I Rosanero had star players like Andrea Belotti, Edison Cavani, and Paulo Dybala, but the club was ruined by the crazy behavior of its former owner, Maurizio Zamparini. He fired 35 managers in 15 years and, according to The Guardian, once threatened to cut off his players’ testicles and put them in his salad. After Zamparini sold Palermo in 2018, the club had six more directors over the next two years.
Palermo will become CFG’s 11th club if the deal goes through. The group owns Manchester City in the English Premier League and New York City FC in the MLS. It also owns Melbourne City in Australia, Yokohama F. Marinos in Japan, Montevideo City Torque in Uruguay, Girona FC in Spain (which plays in the second division), Sichuan Jiuniu FC in China, Mumbai City FC in India, Lommel SK in Belgium, ES Troyes AC in France, and Sichuan Jiuniu FC in China.