Palermo. The historic Italian football club was sold for 10 euros

Maurizio Zamparini, the former team owner

The former owner, who acquired the club in 2002 for €15 million, said that a meeting with the club's new owners, who took over the debts of the club - worth almost 23 million euros - is scheduled for next week.

Palermo was sold for the symbolic price of 10 euros to a London-based company, Maurizio Zamparini, the former owner of the team, said, on Saturday. "Thinking only about the future of the club and its supporters, it is with a lump in my throat that I announce my exit," Zamparini wrote in a statement posted on Palermo's website.

After living troubled months due to financial problems, suspected of corrupting a judge to avoid insolvency, the historic 118-year-old Italian football club was sold to a business consortium.

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