Serie B leaders Palermo sold for €10 to London-based company

Italian Serie B leaders Palermo have been sold to a London-based company for a “symbolic price” of €10 (£8.75), outgoing owner Maurizio Zamparini announced on Saturday.

The unnamed new ownership group will take on a €22.8m debt and assist with the construction of a new stadium and training centre.

Last year, a takeover bid for the Sicilian club from US-born businessman Paul Baccaglini was rejected by Zamparini.

“Thinking only of the future of the company and the supporters of Palermo, I have, with a lump in my throat, signed my exit from the club,” he said.

Zamparini bought the club in 2002 and made over 40 managerial changes during his tenure.

Most recent

Browning has marred thousands of once-valuable autographed baseballs, with the precise cause of the damage still unknown. Dennis Tuttle examines the impact on the baseball collectibles market

Dead since 1995, the revered Hall of Famer still commands a lofty position among baseball memorabilia collectors

Callum McCarthy looks at the various ways in which lesser-known European host cities are benefiting from staging a variety of international esports competitions.

Adam Nelson reports on how the International Cricket Council revamped its broadcast coverage ahead of the 2019 Cricket World Cup, focusing on storytelling to attract new audiences and break digital engagement records