Football
Ben Gladwell, Italy correspondent 7y

Palermo's poor form slowing down sale of club - president Maurizio Zamparini

Palermo president Maurizio Zamparini says that negotiations to sell the club to a group of Chinese investors are progressing, although their league form is not helping.

The Rosaneri are currently second from bottom in Serie A with just six points from their first 12 games.

Palermo are four points from safety with almost a third of the season gone and the threat of relegation is scaring off potential investors, though Zamparini is determined to sell the club and hopes it will happen sooner rather than later.

"I'm looking to sell to the Chinese and I've been in negotiations with them for four or five months," he is quoted as saying by ANSA. "I've also had negotiations with Americans, but I seriously want to sell the club -- I'm 75 now.

"It's been two years that I've been looking for somebody to take Palermo, not to make money but so that there can be investment in the club and some strong hands to carry the club forward. In the meantime, I will not be giving up."

Zamparini believes it is necessary for Palermo's future that he finds them new owners.

"We've seen big families like the Morattis and Berlusconis sell their clubs and big European clubs are being taken over by Arabs and Chinese," he added. "We are feeling the [financial] crisis and it's not easy to find any big investors in Italy.

"These Chinese or Arab businessmen are not known outside of their circles, but they want their images and companies to be better known and by entering into football, they get a return from the media interest. [Roman] Abramovich was a billionaire before he bought Chelsea, but nobody knew him."

Zamparini admits negotiations are dragging on, though, having received offers in July.

"It's going slowly both for the way they work and for the league position Palermo are in," he said. "Being second bottom can also determine the market value of the club because nobody would be interested in buying a Palermo in Serie B."

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