Maurizio Zamparini has dismissed Frank Cascio’s offer to buy Palermo as ‘not adequate.’
In August, the American businessman was reported to be moving closer to striking a deal to acquire the Sicilian club for around €50m.
However, Zamparini has been quoted in Monday’s Tuttosport as saying that he ‘doesn’t believe Cascio’s letter of intent to be adequate.’
Instead, the Italian daily makes a Chinese consortium favourites to buy the Rosaneri. Earlier in September, current President Zamparini admitted talks with the group were at a ‘very advanced stage,’ with further negotiations scheduled for October.
Should the bid from the Far East prove successful, Palermo would become the third club in Serie A to boast Chinese owners, after Inter and Milan.