Rome, 27 set. - Palermo football club president Maurizio Zamparini today announced he is to resign all management appointments.
During a press conference held at Palermo's Barbera Stadium, Zamparini said "I will be standing down and, as of today, Pietro Lo Monaco is the new CEO, and he will have full powers concerning both management and the team."
Zamparini also asked the press to "refer to Mr Lo Monaco" for any further queries "up until the end of the football season." Zamparini argued that while he regretted the decision, "holding office as president for ten years has proved extremely demanding."
The now former president explained that the reasons for the handover also include "the need to follow my other businesses more closely, given the current economic crisis," and his "current political commitments."
Zamparini went on to say that he and Lo Monaco had discussed the potential handover in the past, and "found an agreement in a matter of minutes."