Manchester City owners complete £11.2m takeover of Palermo as the City Football Group adds an ELEVENTH club to its rich worldwide portfolio and plans to resurrect the once-bankrupt side back to Serie A

Manchester City's owners have added Italian outfit Palermo to their extensive network of clubs.

The City Football Group announced on Monday they had acquired a majority stake in the Sicilian side, who won promotion to Serie B last season.

Palermo become the 11th club fully inaugurated under the CFG banner after City, New York City, Melbourne City, Yokohama F Marinos, Montevideo City Torque, Girona, Sichuan Jiuniu, Mumbai City, Lommel SK and Troyes.

The City Football Group, led by Sheikh Mansour, have bought Serie B side Palermo for u00a311.2m

Palermo, once a Serie A side, become the eleventh club fully under the CFG banner

CITY FOOTBALL GROUP'S CLUBS

Manchester City (England)

Girona (Spain)

Melbourne City (Australia)

New York City (America)

Mumbai City (India)

Sichuan Jiuniu (China)

Montevideo City Torque (Uruguay)

Yokoham F.