It was announced over the weekend:
"Sport Capital Group Investments Ltd (a wholly owned subsidiary of Sport Capital Group Ltd) has today completed the acquisition of 100% of the shares of US Città di Palermo Spa, through the completion of the previously announced preliminary contract dated 30th November.
"At a shareholders' general meeting of US Città di Palermo Spa a new board of directors shall be nominated, with Clive Richardson as President, Emanuele Facile as Chief Executive and John Treacy as third director. The new board and a group of senior football advisors lead by Dean Holdsworth will be working on plans for the remainder of the 2018-19 Season with the current management team.
"Sport Capital Group Investments Ltd will in the coming days be calling a shareholder meeting to increase its share capital to up to €20m."