Serie B side Palermo has been sold to a London-based company for a "symbolic price" of €10 (£8.75), outgoing owner Maurizio Zamparini announced on Saturday.
Citing "recent legal developments" at the club, Zamparini said the sale to the unnamed new ownership group will take on a €22.8 million debt and assist with the construction of a new stadium and training centre.
"I am sad about the recent incidents that I have been drawn into and which have led me to be portrayed...
Three clubs may be added to Italy's second-tier Serie B eight games into the season after the regional administrative tribunal of the state of Lazio (TAR) ruled the Italian FA were wrong to reduce the league to 19 clubs in the summer.
Following the bankruptcies of Avellino, Bari and Cesena during the summer, the Italian FA decided to block clubs bidding to be reinstated in the league and instead ordered the season to go ahead with just 19 rather than 22 clubs.
Serie B, Italy's second tier, has been suspended by the regional administrative court (Tar) of Lazio, the division's president Franco Frattini has said.
The season started in turmoil with three teams -- Avellino, Cesena and Bari -- going bankrupt and forced to start again from Serie D. And, rather than replace them, the competition began with just 19 rather than the expected 22.
Despite the season starting, there are a series of ongoing appeals from various clubs to have the number of teams in...