AP

PALERMO, Sicily (AP) — American-born Paul Baccaglini is Palermo's new president ahead of his fund's takeover of the Serie A club.

Maurizio Zamparini announced he was stepping down last week after 15 years in charge and Palermo confirmed Baccaglini's appointment on Monday.

Baccaglini, who was part of an attempted takeover of Palermo last year with Frank Cascio, is buying the club with the Integritas Capital group he co-founded.

Palermo is currently in the relegation zone with 15 points from 27 matches.

Palermo says that Baccaglini "will indicate by 19/04/17 his purchase of 100 percent of Palermo Calcio's shares, the transfer of which must take place by 30/04/17."

It adds: "President Paul has guaranteed a program with funding for the development of the sporting project linked to the technical one for the construction of the new stadium and training center."

A former radio and TV personality, Baccaglini has an American father and an Italian mother.