However, this was the second time that Palermo participated in the fourth division: in the 1987–88 season the sicilian club played in Serie C2, after a year passed outside of any football league, because of bankruptcy in 1986.

On 24 July 2019, Mayor Orlando confirmed six declarations of interests had been presented on that regard; those included offers by Massimo Ferrero (Sampdoria owner and chairman), Lebanese-Swiss-English fund Zurich Capital Funds, fashion multinational company Capri srl, and a joint one by Dario Mirri (Palermo-based marketing entrepreneur, and nephew of historical club chairman Renzo Barbera) and Tony DiPiazza (Sicilian-American real estate mogul).

[3] The next day, Orlando announced to have chosen "Hera Hora srl", the joint Mirri-DiPiazza proposal, as the new owners.

The new owners will also be supported by Rinaldo Sagramola, former Palermo managing director during the early Zamparini years (2004–2012), who will serve again in such role.

As stated in their business plan, the new ownership plans to bring Palermo back to Serie A within three years, organize a women's football section (by means of acquisition and integration of an already existing local team), relaunch the youth system also through a collaboration with the minor local teams, open a club museum and build a new training centre nearby the stadium area.