NEWS
Thursday March 14 2019
Palermo back in financial trouble

Serie B club Palermo are back in financial trouble after the Mirri family pulled out of the takeover, so there could now be crowd-funding to save it.

The former top flight giants have been in crisis for several years now and it looked to be over when an English group bought out Maurizio Zamparini, but a few weeks later handed it back to the patron when it emerged they didn’t have sufficient funds to cover the purchase.

They had been on the verge of bankruptcy last month when local businessman Dario Mirri provided the necessary €2.8m to keep them afloat, purchasing advertising space around the training ground and team.

However, today Mirri announced that was as far as he’d go, choosing not to take up his option to buy shares in the club.

Director Rino Foschi seems confident the outstanding salaries will be paid on Monday, but it’s not clear where he is getting this money from.

Meanwhile, there are plans afoot to set up a crowdfunding campaign and get fans to buy as little as one share in the club to keep it going until the end of the season.

As Palermo are close to earning promotion to Serie A, that would attract more solid investors.

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