Manchester City owners take over Serie B side Palermo

Palermo fans celebrate
Palermo fans celebrate their promotion from Serie C last month

Manchester City's owners have acquired a majority stake in Italian Serie B side Palermo, making them the 10th club linked to the Premier League champions.

Palermo, who were in Serie A in 2016-17, have won two promotions in three seasons having dropped to the fourth tier after going bankrupt.

The City Football Group owns 11 clubs.

The others are New York City, Melbourne City, Yokohama F Marinos, Montevideo City Torque, Girona, Sichuan Jiuniu, Mumbai City, Lommel SK and Troyes.

CFG chief executive Ferran Soriano said: "Palermo is a great and historic club with a strong and proud identity.

"This is a very special club, and our role will be to add value to all of the things which make it so special and steadily improve performance on and off the pitch, using our experience and know-how."

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