US Palermo: president Maurizio Zamparini announces the arrival of Chinese investors into the capital

"Did I sell Palermo to the Chinese? No, I will bring the Chinese to Palermo. They will become majority shareholders, but I will remain a minority shareholder. Within two months, we will have the final agreement," said Maurizio Zamparini, president and owner of of US Città di Palermo (Serie A TIM), on 05/10/2016.

Maurizio Zamparini announced, on 21/03/2016, that US Palermo were up for sale, the club he has owned since 2002, while the Sicilian club played in the Serie B. Palermo were promoted to the Serie A TIM for the following season, in 2003-04. Founded in 1900, US Città di Palermo had never played in a European competition before the arrival of Maurizio Zamparini: between 2005 and 2012, the club participated five times in the UEFA Cup or Europa League.

"With this entrance into the capital of this investment fund, backed by the Chinese government, we expect a total of €200m, the minimum amount to renew the club. We need to invest €150m in the new stadium, €30m in the training centre, and €20m in other investments, which "will be a surprise for everybody," stated the owner of US…