Manchester City's owners are in advanced talks to buy Palermo.

La Gazzetta dello Sport says City Football Group (CFG) are closing on a deal. Palermo president Dario Mirri is ready to sell 80% of his shares in the club.

The two parties are now in negotiations and work is ongoing to close out a deal soon. Mirri will retain a share and will hold a role at Palermo after the sale is complete.

CFG will pay around €6m for the Sicilians.

Palermo are currently preparing for the Serie B play-offs.