Home / World News / Man City buy Phillips and stake in Palermo

Man City buy Phillips and stake in Palermo

In a busy day of shopping Manchester City have purchased an England midfielder and a controlling stake in an Italian club.

The Premier League champions completed the long-trailed signing of Kalvin Phillips, who left his hometown and boyhood club Leeds at age 26 to sign a six-year contract.

The value of the transfer was not disclosed though was reported to be Stg 45 million ($A80 million).

In an emotional message to Leeds fans on social media, Phillips said it had been a privilege to play for “this amazing club” and praised former manager Marcelo Bielsa as the best he had seen.

Man City’s parent company City Football Group later completed a deal to take a majority stake in Serie B team Palermo — their 12th club acquisition in full or joint ownership.

“This is a very special club,” group chief executive Ferran Soriano said in a statement, “and our role will be to add value to all of the things which make it so special and steadily improve performance on and off the pitch, using our experience and know how.”

Newly promoted to the Italian second tier, Palermo join a portfolio that also includes New York City, Sichuan Jiuniu in China and Mumbai City in India.

Palermo have won two promotions in four seasons and club president and chairman Dario Mirri will stay in those roles, the club said.

“We wanted to find the right investor with a deep knowledge of football to help to continue to take us forward,” Mirri said.

The CFG holding company is 77% owned by an investment fund of the Abu Dhabi royal family.

About brandsauthority

Check Also

Kramaric double eliminates plucky Canada

Andrej Kramaric was on target twice as Croatia battled back from conceding an early goal …

%d bloggers like this: