Manchester City’s owners City Football Group are closing in on a deal to purchase the Italian side, Palermo.
CFG representatives have flown to Milan for talks with Palermo’s president Dario Mirri and are expected to wrap up a full takeover in the next few days as reported by Sky in Italy.
The group manifested their interest in the Sicilian club earlier this year and started talks over a potential deal in April. More talks and meetings are expected to take place in the next days, but only the last set of paperwork and bureaucracy is left to be ironed out.
Palermo finished third in Serie C last season, and on Sunday secured promotion to Serie B after beating Padova 2-0 in a two-legged play-off final.
The club were playing in the top flight as recently as 2017, but went bankrupt in 2019 and were relegated to Serie D, the fourth tier of domestic football.
Palermo nurtured an array of talent in their recent history including Edinson Cavani, Paulo Dybala, Javier Pastore, Andrea Belotti and Luca Toni.
CFG would make Palermo the 11th club in their stable, and the first in Italy, with their flagship sides including Man City in England, New York City in the USA, Girona in Spain, Lommel in Belgium and Troyes in France.
They also own Montevideo City (Uruguay), Sichuan Jiuniu (China), Mumbai City (India), and a 20 per cent stake in Yokohama Marinos (Japan).
