Palermo president Maurizio Zamparini says he is shopping around for a foreign buyer.
Zamparini explained his reasoning in an open letter to fans on the club's website:
“Dearest fan, I read your message, which was full of things that are not true because naturally you heard them from the sports press.
“When I arrived Palermo was a club full of debts, on the verge of bankruptcy. Since then, for the passion and love I have for football, every year I had to put new funds in to cover losses. Up to today that's €100m, money that I'll never see again.
“Selling Paulo Dybala this year allowed me to cover a €35m loss that I could not have covered. The same goes for past sales of players like Andrea Barzagli, Amauri, Edinson Cavani, Javier Pastore, Abel Hernandez, players who I discovered and bought.
“At Palermo, Dybala earned €0.8m per year. At Juventus he earns €5m. This is why champions leave Palermo: we cover the costs of running the club and they want to go to bigger sides where they can earn 10 times as much.
“It pains my soul to see fans who don't know the truth, such as yourself. I am looking for a new buyer for Palermo, but it's not easy to find people who will come in knowing they'll lose a lot of money.
“I no longer have the money to lose. I am seeking an Arabian, Chinese or Russian millionaire who can afford to lose money.
“You see, I am an excellent businessman who created thousands of jobs, naturally not in football, and I want to create thousands more.
“If I were to leave today, Palermo would be left a club structured without debt and with balanced books. Years ago I left Venezia in the same situation, without debts, but after four years they were bankrupt!"