City Football Group is close to acquiring total control of Palermo FC in Serie B. A monumental deal as a historic Italian club is coming under CFG ownership.
The Athletic who had the news, also reported the deal could be wrapped up soon.
City Football Group already own a number of other clubs worldwide, including Melbourne City FC, Girona, Troyes, New York City FC, Torque FC and Yokahama Marinos among others.
Palermo have undergone a phoenix like come back after folding in 2019. In the time since they have won promotion and are now just one league under Serie A. A proper return to top flight football under CFG would be amazing.
The CFG would treat it as a legitimate club and not a ‘feeder’ club as many suspected. It is a smart play as CFG will sink resources here as the goal to have a side in many top European leagues is alive and well.
We will see if this impact Manchester City, but my guess is both teams will flourish.