OFFICIAL: Palermo relegated to Serie C
It was said that former owner Maurizio Zamparini had decided to sell the club to a company that he himself established and rented out before selling the former Serie A side to them.
FIGC’s Federal National Court have now announced the decision after a fair investigation.
They released a statement saying that there was a "systematic activity aimed at circumventing the principles of sound financial management and aimed at representing the state of health of the referred company in a manner that is not faithful to reality.
"Against these circumstances, the achievement of clearly elusive activities, suitable for not photographing the real situation of the company, has resulted, continued uninterruptedly from 2015 to 2018 and with their apex relative to the financial statements as at 30 June 2016 whose alterations, as far as it is from the documents that are the object of the trial, they allowed for the registration to the 2017/2018 soccer championship.
"Therefore, in view of the recognized responsibilities of today's deferred parties and due to the seriousness of the offenses, the Court considers it accepts the requests made by the Federal Prosecutor's Office ."