Palermo President Paul Baccaglini insists his takeover of the club is still on, despite almost two months passing since it was scheduled for completion.

Former owner Maurizio Zamparini was forced to deny claims Palermo were facing bankruptcy earlier in the week, as is the slow nature of Baccaglini’s consortium buying out the 76-year-old.

Palermo President Paul Baccaglini insists his takeover of the club is still on, despite almost two months passing since it was scheduled for completion.

Former owner Maurizio Zamparini was forced to deny claims Palermo were facing bankruptcy earlier in the week, as is the slow nature of Baccaglini’s consortium buying out the 76-year-old.

However, the Italo-American assured in a statement on the Rosanero’s official website: “I’ll reiterated what I’ve already reiterated in all my recent speeches.

“The work to arrive at closing continues, despite the events of the past few days.

“Between the two parties, there’s good, open and constructive dialogue, based on transparency and a mutual willingness to arrive at closing as soon as possible.

“While understanding and respecting the expectation and thirst for information provided by the great Palermo family, it’s unwise to quench this thirst with unfounded news, which not only foments conflicting emotions but actually slows down the closing operations.

“At the same time, our professionalism requires us to proceed in accordance with the timing demanded by an agreement of this calibre.”

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