From Italy: Meetings Resume Between Palermo And City Football Group To Finalise Takeover

With Palermo’s Serie C successful promotion campaign in the rearview mirror, negotiations have resumed over the club’s potential takeover by City Football Group, as per a new report.

Serie B club Palermo are flying high off the back of their recent promotion from the Serie C, as the club from southern Italy look to make their way back to the Italian top-flight for the first time since being relegated from the summit in 2012.

For now however, the club hierarchy are focused on a potentially future-altering deal as City Football Group (CFG) close in on adding the Italian side to its fast-growing list of associated clubs. 

Stadio Renzo Barbera (Image: Roger Garfield / Alamy)

Currently, the group boasts a host of clubs around world football - such as Manchester City, Girona, Troyes and Melbourne City. However, securing yet another club in Europe, and an eleventh total club for the group, would be an impressive feat for the CFG decision-makers. 

As reported by Italian journalist Gianluca Di Marzio, Palermo president Dario Mirri has resumed negotiations with CFG after discussions were put on hold amid the club’s successful battle for promotion from the Serie C.

A meeting spanning two hours was reportedly conducted between the two parties as they close in on finalising a transaction to see Palermo join Manchester City's ownership group.

Stadio Renzo Barbera (Image: BasPhoto / Alamy)

There is said to be ‘confidence’ from both sides that the deal will soon be agreed with relative ease - with an agreement close to being reached.

The completion of the transaction will be seen as a monumental day in Palermo’s history, as they look to reclaim former glories in the Italian game.

Clubs associated with CFG have proven to be vindicated for their decisions to join, as many have experienced roaring successes in the form of league titles and promotions in recent years.

Stadio Renzo Barbera (Image: Oleksandr Prykhodko / Alamy)

Most recently, MLS outfit New York City became the first CFG club besides Manchester City to secure a league title and Australian side Melbourne City followed suit in the past A-League campaign.  

“It is a fact that an Italian team is missing (from the CFG umbrella). If you want to be a world club in football, you cannot ignore Italy,” CFG member Alberto Galassi said.

“Palermo have positive characteristics: it is the fifth city in Italy and in football, it has an incredible catchment area.”