Manchester City Owners, City Football Group, Take On 11th Club, Palermo
Fresh off of a Premier League title and a string of dominating runs in European competitions, Manchester City’s owners have expanded their reach into Italy, securing a majority stake in second-tier club Palermo. City Football Group, an investment group based out of Abu Dhabi, purchased the Sicilian club this last week. Man City Chief Executive Officer Ferran Soriano confirmed the purchase in a press conference with former owner Dario Mirri, who will stay on as team president while retaining a 20 percent stake in the club. “Our goal in the next few years will be to get into Serie A,” Soriano sa...