Manchester City owners City Football Group are close to completing a takeover of Italian side Palermo, the newly promoted Serie B side.
If the deal goes through, CFG will become owners of their 12th club but the first Italian side. President Dario Mirri is prepared to sell 80 per cent of his shares which would cost €6million (£5m).
They first expressed an interest in taking over the club back in April and have held meetings since then. Sky Sports Italia reported that CFG representatives flew to Milan this week after the side gained promotion to Serie B via the play-offs last week. The parties are said to have held meetings for two hours in Milan.
