After recently buying Troyes in Ligue 2 and Bahia in Brazil, the City Group are adding even more clubs to their portfolio.
The Manchester City owners have now targeted Italy, where they appear intent on rescuing historical club Palermo from the depths of Italian football.
The club recently got promoted back to Serie B after spending the past three seasons in Serie D and Serie C, as they bid to return to Serie A, last playing in the elite during the 2016/17 campaign.
They will join a number of other clubs alongside Manchester City in the City Group, as reports in Italy claim a deal is already done.
Palermo venduto ai proprietari del Manchester City. Mirri vende l’80% delle quote a 10 mln più 2 di bonus. Si tiene il 20% delle quote (illiquidabile) e resta Presidente del club @tvdellosport #Sportitaliamercato @AlfredoPedulla @Glongari
— Michele Criscitiello (@MCriscitiello) June 16, 2022
Michele Criscitiello took to Twitter to explain that Palermo ‘have been sold to the owners of Manchester City’, as their chairman, Dario Mirri, sold 80% of the club for €10m + €2m in bonuses.
He retains 20% of the club, and ‘remains president’, meaning he’ll keep on overseeing the club’s hopeful rise through the leagues.
Whether Manchester City end up profiting from this remains to be seen, but it could certainly give them a chance to send some players to Serie B in the near future to get some experience.
