Manchester City owners City Football Group (CFG) are set to snap up Serie BPalermo for a cut-price fee.
Sicily's Mediagol reports CFG are paying €13m up front plus a further €2m in bonuses based on promotion to Serie A.
Palermo went bankrupt in 2019 and had to start again from semi-professional Serie D.
Last season, they won their Serie C promotion playoff to reach Serie B.
Rosanero coach Silvio Baldini, formerly of Empoli, will stay in charge, with Leandro Rinaudo to be promoted from the youth academy to director of sport with Giorgio Zamuner, while Giovanni Gardini should replace Rinaldo Sagramola as CEO.
