PALERMO, Italy — Recently relegated Palermo has announced a change in ownership, with American-born Paul Baccaglini to take over the Sicilian club from Maurizio Zamparini by the end of the month.
A statement on Palermo's website says Baccaglini and Zamparini met Tuesday and closed the deal following a positive outcome of due diligence.
The club says "therefore the change in ownership, given the banking delays, will occur by June 30."
Palermo finished next-to-last in Serie A last month and will drop down to Serie B for next season.
Having grown up in the United States, Baccaglini moved to Italy to pursue a basketball career and then became known as an Italian TV personality.
Zamparini, who purchased the club in 2002, made 40 coaching changes during his 15 years in charge.