Man City add Palermo to their network of clubs
The City Football Group announced on Monday they had acquired a majority stake in the Sicilian side
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Manchester City’s owners have added Italian outfit Palermo to their extensive network of clubs.
The City Football Group announced on Monday they had acquired a majority stake in the Sicilian side, who won promotion to Serie B last season.
Palermo become the 11th club fully under the CFG banner after City, New York City, Melbourne City, Yokohama F Marinos, Montevideo City Torque, Girona, Sichuan Jiuniu, Mumbai City, Lommel SK and Troyes.
The investment could enable Palermo to continue their recent revival after years in the doldrums.
Palermo were relegated from Serie A in 2017 and were then forced to reform in Serie D after going bankrupt in 2019.
Dario Mirri, who has overseen the club’s rise from the fourth tier, will remain as president and chairman.
CFG chief executive Ferran Soriano said: “Palermo is a great and historic club with a strong and proud identity.
“We will work with Dario Mirri to continue his outstanding work to grow Palermo sustainably over the years ahead. This is a very special club, and our role will be to add value to all of the things which make it so special and steadily improve performance on and off the pitch, using our experience and know how.”
CFG was formed in 2013 as City owner Sheikh Mansour looked to expand his presence in the game.
Mirri said: “We are so very happy to welcome City Football Group to Palermo. We wanted to find the right investor with a deep knowledge of football to help to continue to take us forward. We have that in CFG.”
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments