Emirates sports holding that owns Manchester City has bought a controlling stake in the Italian team.
City Football Group’s football empire is growing. Emirates sports holding has officially become the owner of a controlling stake in Palermo. This was reported by the website of the Italian club.
The amount of the transaction was not disclosed, but according to unofficial data, 80% of the shares were worth to the new owners 13 million euros.
“Palermo is a great club in history with a strong and proud identity. We will work together with President Dario Mirri to strengthen his outstanding work aimed – over the next few years – at the sustainable growth of Palermo. This is a very strong one. team and our role is to add value to everything that makes Palermo special and continue to improve performance on and off the field using our experience and knowledge.
Italy is one of the most exciting and enthusiastic football countries in the world, with a rich history of national and club success, passionate supporters and many amazing players. We are pleased that City Football Group has expanded its presence in Italy, “Ferran Soriano, CEO of City Football Group, commented at the event.
Recall that Palermo, previously sent to the lower Italian divisions due to its debts, secured a ticket to Serie B last season. the world. Its main is English Manchester City.
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Source: korrespondent
I am William Jackson and I have a passion for sports journalism. With over 3 years of experience in the industry, I have worked in a variety of roles to improve the quality and accuracy of sports news coverage. As an author at Athletistic, I specialize in covering football news and providing comprehensive analysis for fans around the world.
