Palermo

Italian club Palermo have become the 11th club to be taken over by City Football Group. But is joining the CFG family a guarantee of success?

City Football Group (CFG), the Abu Dhabi company with investments in Manchester City, have purchased a majority stake in Palermo, it was announced.

Palermo have been relegated to Serie C because of financial irregularities, ending their hopes of securing promotion to Italy's top division.

Italian Serie B club Palermo said it had been sold again on Thursday, the second time in three months that it has changed hands.

The Houston Dynamo have signed Slovenian defender Aljaz Struna from Italian Serie B side Palermo, the team announced on Monday.

Palermo has been sold to a London-based owners for a "symbolic price" of €10 (£8.75), outgoing owner Maurizio Zamparini announced on Saturday.

Frosinone beat Palermo 2-0 in the second leg of their playoff final on Saturday to earn promotion back to Serie A after a two-year absence.

Baccaglini was named as Palermo's new president in March, but delays to the arrival of funds to complete a takeover saw Zamparini lose patience.

Statement on club's official website said Baccaglini and Zamparini met on Tuesday and closed the deal following a positive outcome of due diligence.

Former Palermo man Fabrizio Miccoli could be jailed for four years after being accused of "mafia-style blackmail" to settle a debt seven years ago.