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Man City complete takeover of Palermo

Manchester City's owners have completed their takeover of Serie BPalermo.

City Football Group (CFG) have bought Palermo today, as confirmed by the Sicilian club.

La Gazzetta dello Sport says City are paying €13m up front plus €2m in bonuses for the Rosanero.

In 2019, the club went bankrupt and had to start again in Serie D. Before the coming season, Palermo is back in Serie B.

They become CFG's eleventh club in their network.

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