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Baccaglini reveals Palermo owners

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Baccaglini reveals Palermo owners

Palermo President Paul Baccaglini has revealed the name of the company that have acquired a 100% stake in the club.

Former President Maurizio Zamparini has already stepped down, with the new man at the helm in the process of finalising closing.

The news was communicated today via a statement published on the club’s official website.

"Respecting the timing during the presentation of the new Palermo project, we announce that the company that will acquire 100% of Palermo shares will be YW &F Global Limited.

"The structure created will comply with federal regulations regarding changes in ownership in order to allow the execution of the contract later this month."

 

 

https://www.football-italia.net/101326/baccaglini-reveals-palermo-owners

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Reports of €120 million of unpaid debts. Something is hugely suspicious of this attempt to sell off the club now.

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1 minute ago, ScoRoss said:

Reports of €120 million of unpaid debts. Something is hugely suspicious of this attempt to sell off the club now.

Damnit - Woke up to this news.

As someone who has always liked Palermo, it would be a damn crime if they were declared backrupt. It wasn't that long ago that they were playing in Europe with the likes of Pastore and Miccoli.

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The FIGC make a big deal at the start of every year monitoring club's finances and whether they can be awarded a license. But this would not be the first time that a 'large' club has had huge financial troubles hidden away.

They need to carry out a proper check into the clubs or not bother at all.

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As I noted before, there's definitely suspicion around the club's finances as a whole. Yet the authorities in Italy seems to pay nothing more than lip service to protecting their leagues and clubs. With the recent examples of Parma and Modena (this season!) go bankrupt midway through a season, how have they not acted and made sure that clubs playing the league will be able to actually complete the entire season?

Palermo is nothing but a basket case. Whatever happened to this 'Anglo-American fund' that bought the club or Paul Baccaglini, who was an odd choice anyway before he resigned. Maurizio Zamparini can't seem to drag himself away from the club, but whether is able to actually run the club is another matter. Promises of new investment and a new stadium seem further away than ever. Especially with news stories like this. It may or may not just be 'creative accounting' but there can't just be nothing in this. History has shown, whatever the stories behind the running of Italian clubs... it's normally much worse in reality.

At least they are currently doing well in Serie B, which must be the closest league in the world at the moment.

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