City Football Group confirm Italian ambition with €13m Palermo buy
July 4 – City Football Group have confirmed the acquisition of a majority stake in Palermo FC who will play in Serie B next season having worked their way back from Serie D having been relegated for declaring bankruptcy in 2019.
No official value has been given for the acquisition but sources say that CFG have picked the club up for €13 million.
Palermo is 121 years old, has a 36,000-capacity stadium,
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