Palermo takeover imminent as club names new president

Naples - Serie A struggler Palermo on Monday confirmed an imminent takeover by American investors, less than a week after owner and president Maurizio Zamparini stepped down from his post.

Palermo's new president is Paul Baccaglini, a former radio and television presenter for MTV who heads the Integritas Capital investment group, according to a statement by the Sicilian club.

"Palermo FC announces that Paul Baccaglini is the club's new president. Paul and his group demonstrated their interest in acquiring Palermo football club and in building sports facilities," said the statement.

"An agreement has been reached allowing Baccaglini, as a representative and founding member of Integritas Capital, to acquire 100 percent of the shares in Palermo football club."

The statement added the new investors would have "between April 19 and April 30, 2017 to complete the deal."

Integritas is expected to bring much-needed investment to Palermo, including the construction of a new stadium.

The end of Zamparini's reign could also herald a new era for future coaches of the Sicilian outfit.

Zamparini, who is notorious for hiring and firing coaches at the Serie A club, has made no less than 28 appointments - many of whom were hired for a second or third time - since he bought Palermo in 2002.