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Man City owners looking to buy Palermo

Man City owners reportedly in talks to purchase struggling Italian club

July 1, 2022 By Michelle Bonsu
The wealthy owners of Manchester City are looking to add another club to their portfolio, and this time, are reportedly looking towards Italy.

After a dark period in which Palermo found themselves relegated all the way to Serie D, things appear to be picking up for the Sicilian club.

Not only will they be featuring in Serie B after successfully winning the Serie C promotion play-offs, but they just may be receiving a huge financial boost.

According to reports, Shiekh Mansour, best known to football fans as the owner of Manchester City via his holding company City Football Group, has made a serious bid to acquire 80 per cent of the club's shares. This will cost the tycoon anywhere from $12.4 million to $13.5 million (€12 million to €13 million).

On the surface, especially given Palermo's struggles, it may seem like an odd buy for City Football Group. However, the club own a slew of teams across the world, and often use some of the smaller sides, especially those in Europe, as a loan destination for City players to gain further experience without having to see them feature for a rival side.

Additionally, Palermo does have a sold track record in growing talent, with players such as Paulo Dybala and Edinson Cavani among those having donned the rosanero kit.

Should all go according to plan, Palermo will become the 11th team under CFC's umbrella. So far, the clubs that are in this group include:

In Europe:

  • Manchester City
  • Troyes
  • Girona 
  • Lommel

In North America:

  • New York City

In Asia and Oceania:

  • Yokahama F. Marinos 
  • Melbourne City
  • Mumbai City
  • Sichuan Jiuniu

In South America:

  • Montevideo City Torque

 


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