A takeover bid for Serie B club Palermo was rejected by its owner, Maurizio Zamparini, on Saturday, more than four months after "it was announced that terms had been agreed for the deal," according to Brian Homewood of REUTERS. Zamparini said in a statement that the terms offered by U.S.-born businessman and former TV comedian Paul Baccaglini "were not acceptable." The "volatile" Zamparini, 76, has employed around 40 coaches in 15 years at the club. He said, "I am forced through love and competence to continue the work necessary to get this club back into Serie A" (REUTERS, 7/1). ESPN.com's Ben Gladwell reported Zamparini claimed Baccaglini "had been wasting his time." Baccaglini wrote in a letter published by Italian daily La Repubblica, "My team and I take note of this refusal of our offer to acquire Palermo Calcio. Over the course of these months, I called and summoned people I believe to be the best professionals around to structure a project which could have been sustainable and guaranteed further growth to the club." Baccaglini said that he felt he had "put everything into this," adding, "I've not held back any energy, time or economic resources over these months in a bid to find a road which could lead to the construction of all of the ideas that could make Palermo a great success story." But Zamparini accused him of being full of "hot air," with "little action" (ESPN.com, 7/3).
