Maurizio Zamparini says a new Palermo President will be appointed soon but “it won’t be me”.
The 76-year-old stood down as Rosanero patron earlier this year, with a consortium led by Paul Baccaglini agreeing to buy the club.
However, that deal collapsed on Friday and the consortium will now not be taking over.
“Today the board of directors will meet and all will resign, so there will be no Baccaglini within the club,” Zamparini told il Sicilia.
“They will all resign so that legally so that I remain the sole legal owner, waiting for a new board of directors to be appointed within eight days.
“They will then elect a new President, and I want to clarify straight away that it won’t be me.”