Financial issues relegate Palermo to Serie C

Italian side Palermo will be relegated to Serie C despite finishing the Serie B season in third place and earning a spot in the promotion playoffs.

The Italian Football Federation (FIGC) Federal National Court ruled yesterday that the club finishes bottom of Serie B and is relegated “for a series of management irregularities by several former directors”.

It is alleged former owner Maurizio Zamparini committed money laundering, selling the Palermo brand to a company he created for a significant sum, before renting it back to the club for a minimal amount.

It is thought the club will appeal the decision which could lead to more disruption in the Italian second tier. Serie B was forced to start the 2018-19 campaign in September with only 19 teams due to numerous cases of financial irregularities.

The relegation comes just over a week after Arkus Network SRL, a facilities management company, completed its surprise takeover of the club.