Palermo FC
City Football Group acquisition · 1 Jul 2022
- Buyer
- City Football Group
- Seller
- Dario Mirri (via Hera Hora S.r.l.)
- Stake acquired
- 80%
- Control
- Yes
- Reported consideration
- ~€13m
- Implied equity value
- €16.3m
- League
- Serie B
- Country
- Italy
- Confidence
- MEDIUM
City Football Group acquired a 80% majority stake in Palermo FC from Dario Mirri (via Hera Hora S.r.l.), announced 1 Jul 2022.
Reported consideration was ~€13m. That implies a 100% equity value of €16.3m (calculated by us). A further ~€50m was announced as an investment commitment.
Nearest pre-acquisition revenue was €3m (FY 2020/21), an equity value / revenue multiple of 5.36x.
- Announced
- 1 Jul 2022
- Closed
- 1 Jul 2022
- Stake after transaction
- 80%
- Status
- completed
Reported consideration
What the buyer reportedly paid for the stake
Implied 100% equity value
Calculated: consideration ÷ stake acquired
Reported club valuation
Enterprise value
Only shown when debt/cash near the transaction date is established
Debt assumed / restructured
Primary capital injection
Total announced investment commitment
Commitments are not purchase price and not valuation
Nearest pre-acquisition financial year: 2020/21
Revenue
Wages
EBITDA
Net debt
Net income
Palermo was technically promoted from Serie C to Serie B via playoffs in June 2022, immediately before CFG's 1 July 2022 completion — so at signing Palermo's most recently completed competitive season (2021/22) was still in Serie C, though the club entered Serie B for the 2022/23 season under CFG ownership; we record league_at_transaction as Serie B (division 2) to match the club's status at closing/for the upcoming season, consistent with contemporary reporting describing it as a 'neopromosso in Serie B' deal.
- Inside World Football — "City Football Group confirm Italian ambition with €13m Palermo buy" ↗Tier 4 · specialist football business media
2022-07-04 — “Headline and search-indexed content report City Football Group paying ~€13m for an 80% stake in Palermo, announced 4 July 2022. Direct fetch returned HTTP 403 (site blocks automated access); retained as corroborating with s13, not sole evidence.”
- Sky Sport — "City Group, chi sono i nuovi proprietari che hanno acquistato il Palermo" ↗Tier 3 · top media
2022-07-01 · it — “City Football Group acquired 80% of newly-promoted-to-Serie-B Palermo for €13m plus bonuses; deal finalized 1 July 2022; Dario Mirri retained 19.75% and remained club president; a seven-year budget plan was agreed independent of the division Palermo plays in.”
- Stadionews.it — "City Group, oltre 15 milioni per il Palermo: i dati del ricco 'impero'" ↗Tier 4 · specialist football business media
2024-01-01 · it — “Reports cumulative CFG investment in Palermo of roughly €50m across acquisition price, sporting infrastructure and squad costs since the 2022 takeover; used via search synthesis, not independently fetched.”
- Mediagol — "Palermo, bilancio in rosso: perdita d'esercizio di quasi 7 milioni" ↗Tier 5 · local sports media
2021-01-01 · it — “Filed FY2020/21 accounts (Palermo's first professional season under Mirri ownership): revenue €3,033,789 (over half from advertising/sponsorship, ~€2m), net loss €6,948,139, ticketing revenue only €10,837 due to pandemic stadium closures; cumulative two-season losses exceeded €8m against an initial three-year budget of €15m.”