US Città di Palermo: sale canceled due to "lack of investment schedule" of buyer

"There is no news on the offer (to buy US Palermo presented by Paul Baccaglini and his associates via the company Integritas Capital), or for the amount of funds invested in the club for purchasing and strengthening the team, or on the (financial) promises in the original contract of 24/2/17 for stadium construction and sports facilities," said Mauricio Zamparini, owner of US Palermo (relegated to Serie B ConTe.It) on the club's website, on 06/07/2017.

Mauricio Zamparini announced his resignation as president of US Palermo on 27/02/2017. On the same day, he signed a contract with the Italian-American businessman Paul Baccaglini and Integritas Capital. The contract made Paul Baccaglini the new president of US Palermo in anticipation, pending the final transfer of the amounts for the club's shares by 30/07/2017, following the presentation of guarantees in the project, and with respect to a schedule of transfers of funds. According to Mauricio Zamparini, the buyer has still not paid the first amount stipulated, due on 30/04/2017, as of 01/07/2017.

"The members of the board of directors…