PALERMO FOOTBALL CLUB RELEGATED BECAUSE OF ALLEGED CLUB INVOLVEMENT IN A MONEY LAUNDERING SCHEME SPEARHEADED BY ITS FORMER OWNER

The Deadspin website reported that Italian soccer authorities have given the Sicilian club a relegation penalty that will send them into the third division next season (the club was due to take part in play-offs that could have seen in in the top division).  It is reported that former club owner Maurizio Zamparini sold the Palermo brand to a company he owned – to British-based Sport Capital Group for a nominal €10 – before renting it back to the club for a minimal sum.  The court said Palermo shouldn’t have even been allowed to play in Serie B this season, since the fraud occurred between 2014 and 2017.

https://deadspin.com/palermo-relegated-from-italian-second-division-due-to-s-1834751663

https://uk.reuters.com/article/uk-soccer-italy-pal/palermo-relegated-to-serie-c-over-administrative-irregularities-idUKKCN1SJ23N

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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