Following Palermo's exclusion from
Serie B, a phoenix club was established under the
Article 52 of N.O.I.F. regulations, with Mayor of Palermo
Leoluca Orlando responsible to choose the next ownership. 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). The next day, Orlando announced to have chosen "Hera Hora srl", the joint Mirri-DiPiazza proposal, as the new owners. Under the new conditions, Hera Hora srl will control 90% of the new club, with a 10% to be specifically dedicated for a
supporters' trust as specifically requested by the City of Palermo. Regarding Hera Hora srl (the controlling company of the new club), Mirri will personally control 10% of it, Damir srl (Mirri's main business company) 50%, and DiPiazza 40%. 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. On 3 August 2019, as part of the inaugural press conference, the club announced the new managerial staff, featuring Renzo Castagnini (former Sagramola collaborator) as
sporting director and
Rosario Pergolizzi (former Palermo youth coach) as
head coach; the youth sector will instead be managed by Rosario Argento (former Palermo youth chief in the 2000s) and
Leandro Rinaudo (a Palermo native and former club player). ==Players==