The empire grows: City Group closing in on Palermo takeover
The City Group, holding company that owns Manchester City wants to expand their borders and is finalizing a deal to buy historic Serie A side Palermo
The City Group, holding company that owns Manchester City, is one step away from finalizing the purchase of a historic Italian team: Palermo. According to the journalist Gianluca Di Marzio, in recent days a great advance was achieved in the negotiation and everything seems to indicate that the acquisition will be completed in the near future.
Edinson Cavani played 117 matches with the pink shirt, scoring 37 goals before leaving for Napoli
Palermo, a team that shined in Serie A with players like Paulo Dybala, Edinson Cavani, Andrea Belotti, Josip Ilicic and Javier Pastore, among others, suffered a deep economic crisis that led to its disappearance in July 2019.
A fenix club was formed for the 2019/20 season, under the name of Società Sportiva Dilettantistica Palermo and was forced to start from Serie D, the fourth category of Italian football. In 2020 it was promoted to Serie C and with this promotion it changed its name to Palermo Football Club.
#SerieC I #Palermo, dirigente del City Football Group in città: le ultimehttps://t.co/4jVnxYnw1Y
— Gianluca Di Marzio (@DiMarzio) May 12, 2022
Now he could join a holding company for clubs around the world that would give him stability and financial support to relaunch himself again.
In total, in addition to Manchester City, the City Group owns nine institutions: Girona (Spain), Montevideo City Torque (Uruguay), New York City (United States), Melbourne City (Australia), Yokohama F. Marinos (Japan), Mumbai City (India), Sichuan Jiuniu (China), Lommel SK (Belgium) and ES Troyes AC (France).
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