Serie BKT: Sport Capital Group (ENG) acquires US Palermo, owned by M. Zamparini since 2002

"Sport Capital Group Investments Ltd (a wholly owned subsidiary of Sport Capital Group Ltd) has today completed the acquisition of 100% of the shares of Unione Sportiva Città di Palermo Spa (Serie BKT), through the completion of the previously announced preliminary contract dated 30/11/2018," said the Sicilian club on 29/12/2018.

The acquisition of the Palermo (ITA) club is the result of a partnership between Sport Capital Group Ltd and Global Sports Futures, two British investors who have agreed "to act together as investors in sports opportunities. In particular their focus will be on football, real estate, stadium assets, merchandising and other elements," explained Sport Capital Group on 14/12/2018.

Maurizio Zamparini, president and owner of US Palermo since 2002, sold the club, which is in debt to €22.8m, for the symbolic sum of €10 (see below).

"Sport Capital Group Investments Ltd will be calling a shareholders' meeting in the coming days to increase the share capital to up to €20m. The new board of directors will be composed of Clive Richardson (of Global Sports Futures…