American entrepreneur Frank Cascio has formally withdrawn his bid to buy Serie A club Palermo.
Cascio, an Italian-American whose father was from Sicily, sent Football-Italia.net a statement on the situation.
“I announce with profound regret that I have decided to officially withdraw my offer to buy Palermo Calcio.
“These have been some very intense weeks in which I had the opportunity, with my team, to present our project for the future of Palermo Calcio.
American entrepreneur Frank Cascio has formally withdrawn his bid to buy Serie A club Palermo.
Cascio, an Italian-American whose father was from Sicily, sent Football-Italia.net a statement on the situation.
“I announce with profound regret that I have decided to officially withdraw my offer to buy Palermo Calcio.
“These have been some very intense weeks in which I had the opportunity, with my team, to present our project for the future of Palermo Calcio.
“We presented some concrete options to the Presidency, based on the most modern economic models applied to the purchase of sporting franchises.
“My associates have over 20 years of experience in the sporting sector on an international level and we created an excellent project, a project that could’ve offered Palermo that necessary solidity to build a great future.
“Unfortunately, President Maurizio Zamparini and I were unable to reach an agreement, but I feel the need nonetheless to thank him for the opportunity.
“Who knows if in future this dream cannot become reality.
“My passion for football is authentic and other opportunities in Italian and European football are being evaluated.
“I want to dedicate, from the bottom of my heart, special thoughts to the city of Palermo and all the people of Palermo.
“My love for Palermo and its people will never change. This period has been fantastic and the biggest regret is that I was unable to give my fellow countrymen what they deserve.”
Image via @dimarzio