Palermo are heading towards bankruptcy and Serie D, as fans stage protests and the club directors sneak out the back door after postponing a meeting.

The situation is dire, as the club failed to register for the 2019-20 Serie B season, missing the deadline for paperwork proving their financial stability.

Incredibly, the Rosanero directors said they had been “defrauded” by a fake broker who told them he was dealing with a Bulgarian insurance company to act as guarantor.

Palermo are heading towards bankruptcy and Serie D, as fans stage protests and the club directors sneak out the back door after postponing a meeting.

The situation is dire, as the club failed to register for the 2019-20 Serie B season, missing the deadline for paperwork proving their financial stability.

Incredibly, the Rosanero directors said they had been “defrauded” by a fake broker who told them he was dealing with a Bulgarian insurance company to act as guarantor.

“It’s a very simple decision, we will apply the rules,” declared FIGC President Gabriele Gravina. “There can be no extensions.”

Time is running out and owners Arkus Network seem to be no closer to a solution, as today’s Board of Directors meeting was first adjourned and then postponed until tomorrow afternoon.

Fans gathered outside the Stadio Barbera offices to protest and when news filtered through that the club directors had snuck out of a back entrance after cancelling the meeting, an explosive device was thrown, damaging a nearby parked car.

Meanwhile, Mayor of Palermo Leoluca Orlando has called a Press conference for Thursday at 14.30 UK time (13.30 GMT) to discuss the situation.

If Palermo do not register for Serie B, the club will go bankrupt and be forced to begin again as a new entity from Serie D.

The Mayor will play a key role in deciding who gets to take on the mantle of representing football in the Sicilian city.

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