Palermo are in chaos once again, as the club claims it was “defrauded” by fake brokers of a Bulgarian insurance company and is set to go bankrupt.

The Sicilians have been hovering on the edge of destruction for several years now and Maurizio Zamparini’s sale to two different owners crumbled into dust.

Palermo have partially won an appeal against their demotion to Serie C, as they are ‘only’ docked 20 points for financial irregularities and therefore stay in Serie B.

They had originally been demoted to last place and therefore relegated.

This means that the Rosanero, who had been due to take part in the promotion play-offs before the court case, have enough points under their belt to stay in Serie B next season.

They did have 63 points during the regular 2018-19 season, so go down to 43 points and are mid-table.

Palermo have surprisingly announced a takeover with Arkus Network Srl after the York Capital deal fell through.

The Sicilians are currently challenging for promotion from Serie B back into the top flight.

“US Citta di Palermo, represented by Daniela de Angeli, and Arkus Network Srl, represented by lawyer Walter Tuttolomondo, announce that today the parties agreed the closing deal aimed at transferring the entire 100 per cent of shares in Palermo Football Club SPA and its controlled affiliates, which will be perfected over the next few days.

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.

New Palermo investor Dario Mirri admits the financial status of the Serie B club is still “not very clear” and he’s not sure how wages will be paid.

The club was saved from bankruptcy after a takeover was abandoned thanks to the €2.8m introduced by Mirri.

This was officially an advance for Mirri and his company to purchase advertising space for the next four years.

Palermo President Rino Foschi has affirmed that the Serie B club ‘won’t end up like Parma’ and be forced to start over in the non-League.

Palermo were on the verge of crumbling after a takeover bid from British investors was abandoned, and the side returned to close associates of former owner Maurizio Zamparini, who is under house arrest.

Palermo have avoided bankruptcy with the announcement they’ve reached an agreement with the local Mirri family.

The Serie B club was on the verge of crumbling after takeover bid from British investors was abandoned and the side returned to former President Maurizio Zamparini’s close associates.

Serie B side Palermo fall into further chaos, as Sport Capital Group announce they have sold the club back to Maurizio Zamparini’s associates.

A statement appeared on the club website and their NEX page confirming Sport Capital Group Investments had abandoned their attempts to purchase the side.

Zamparini sold the club to a British group, Sport Capital Investments Ltd, in December 2018, but it seems has not been paid and he is suing the group.

Palermo’s CEO has confirmed that the club are up for sale again after their failed British takeover.

A consortium led by British businessman Clive Richardson bought Palermo from Maurizio Zamparini in December, but it seems the 77-year-old not been paid and he is suing the group.

Zamparini has since been placed under house arrest for false accounting and self-money laundering, leaving Emanuele Facile with the task of finding new owners.

Palermo are running out of time to find new investors, as it’s reported talks with Raffaello Follieri were abandoned this evening.

The Serie B club is in absolute chaos, with the British takeover seemingly scrapped, the President and board members resigning.

Previous owner Maurizio Zamparini is under house arrest over accusations of false accounting and self-money laundering.