Representatives from Manchester City’s owners were in Palermo recently to complete the group’s takeover of the former Serie A side.
Currently in Serie C, Palermo have been linked with a takeover of the City Football Group and it has been previously reported that the deal was close. Corriere della Sera have provided an update about the takeover, claiming that two representatives from CFG were in Palermo to potentially put the final details in place for the deal.
Brian Marwood, who is CFG’s managing director for global football, was present in the city. The entourage visited the club’s training facilities yesterday. The report goes on to state that the agreement is now even closer, with CFG about to acquire 80 percent of the former Serie A team by paying around €8 million.
Il Rosanero’s possible promotion to Serie B has been heavily considered for the takeover and the club’s history and the city’s size and population in Italy has also been taken into account by CFG.