Palermo takeover talks collapse

By Football Italia staff

Palermo are running out of time to find new investors, as it’s reported talks with Raffaello Follieri were abandoned this evening.

The Serie B club is in absolute chaos, with the British takeover seemingly scrapped, the President and board members resigning.

Previous owner Maurizio Zamparini is under house arrest over accusations of false accounting and self-money laundering.

If the salaries for November and December are not paid by February 15, the club could be declared bankrupt.

CEO Emanuele Facile held talks all day with local businessman Follieri to discuss a takeover, but multiple sources today claim those negotiations have been abandoned.

According to La Repubblica, Follieri has no plans to resume the discussions.

Now the only hope could be an American group that has so far remained in the shadows, according to Sky Sport Italia, but the chances of Palermo avoiding at the very least a points penalty are getting slim.

Palermo are second in the Serie B table, only one point behind Brescia, and were until now among the favourites for promotion back to the top flight.

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