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Palermo sold for 10 euros

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Serie B club Palermo has been sold to a London based company for only €10, confirmed previous owner Mauricio Zamparini. Founded in November 1900, Palermo made 29 appearances in the Serie A, ending 5th in three seasons- 2005-06, 2006-07 and 2009-10. Palermo last appeared in the Serie AS in the 2016-17 season, ending 19th.

Four players of Italy’s 2006 World Cup winning squad were from Palermo. One of them was Fabio Grosso who scored a wonderful curling goal in the semi-final against Germany and scored the winning penalty in the final shootout against France.

Zamparini said that he sold the club for a price he called ‘symbolic’. He said, “It is with a heavy heart that, with the club’s future and the Palermo fans in mind, I have agreed to hand over ownership of the club. What we’ve managed, and sought for considerable time, is to find a partner that would be able to continue my work but with more financial firepower, and push for targets that can only be achieved with investments that, due in part to unfortunate recent legal developments in Palermo, I was no longer able to provide.

In addition to Palermo, sold for the symbolic price of €10, Mepal – the company that owns the Palermo brand – has been sold to the new owners, who commit to settling Palermo’s outstanding credit, of €22.8m (£20.2m) which will be paid into the company accounts in order to guarantee healthy economic management.

Meanwhile the new London-based owners will put into action, with the help of industrial associations, the necessary steps for the construction of the stadium and training centre. I have contacted the city’s mayor, who has enthusiastically promised to help as much as possible to get the project done within the shortest feasible timeframe. With profound sadness, but with utmost affection, I say goodbye.”

Palermo are currently 1st in Serie B, three points above second-placed Cittadella. They have lost only one of their 13 matches so far. The club’s first match under the new owners is on Saturday against Pedova.

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