Football
Ben Gladwell, Italy correspondent 8y

Palermo chief Maurizio Zamparini in takeover talks with U.S. businessman

Negotiations are under way between Palermo president Maurizio Zamparini and American businessman Frank Cascio over the sale of the Sicilian club, according to reports in Italy.

After being introduced to Cascio by the current owner of Venezia, Joe Tacopina, last month, Zamparini is reported to have met with the American businessman in Venice for preliminary talks, which could lead to a €50 million takeover of the Serie A side.

Gazzetta dello Sport reports that the pair will meet for further talks at Zamparini's home in Friuli-Venezia Giulia next week after their first meeting was deemed positive.

However, according to Sicilian website Mediagol, Cascio faces competition for Palermo from a group of Chinese investors, who would keep Zamparini as honorary president if they succeed with their takeover bid.

Zamparini confirmed last month that he is currently considering two offers -- one from the United States and the other from Asia -- after putting the club up for sale following a frustrating season, which saw him make nine managerial changes as the Rosaneri only just avoided relegation to Serie B.

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