the Palermo club officially bought by the City Foot Group
The legendary Italian club Palermo was officially bought on Monday by the City Foot Group, owner of Manchester City in particular.
It was in the pipeline and it’s now official: the City Football Group (CFG), which already owns a dozen clubs including Manchester City, has officially taken control of Palermo FC, which has just won its accession to the Serie B (2nd division), announced the Italian club on Monday.
He now owns 80% of the shares of the Sicilian club, while the previous owner, Dario Mirri, retains 20% and remains president of the club. « Our goal, in the coming years, is to move up to Serie A », City Football Group executive boss Ferran Soriano said in a statement on Monday.
Palermo, a club that played in Serie A until 2017 and where Javier Pastore, Edinson Cavani, Andrea Belotti and Paulo Dybala notably played, moved up to Serie C (3rd division) in 2020.
The CFG, an Emirati fund, already has total or partial control of eleven clubs, according to its site, including Manchester City, its flagship, but also Troyes in France, Girona in Spain, Lommel in Belgium but also New York City FC in the United States, Melbourne City in Australia, Yokohama Marinos in Japan or Sichuan Jiuniu in China.