Palermo president Maurizio Zamparini will stand down from his role at the Serie A strugglers after 15 years.
Having sacked countless head coaches - including no less than 10 changes in the past year - Zamparini has walked away, effective immediately, with Palermo to announce a replacement within 15 days amid a potential takeover, it was confirmed on Monday.
Zamparini purchased Palermo when they were in Serie B in 2002 and he guided the Sicilian-based club to Italy's top flight in 2003-04.
The 75-year-old leaves with Palermo languishing in 18th position and the relegation zone, seven points adrift of safety after 26 rounds.
"President Maurizio Zamparini announces that he has tendered his resignation," a statement read.
"Within 15 days a new president will be appointed, who will be presented at a press conference in Palermo.
"The new president is a representative of an Anglo-American fund, which is under contract to invest in the projects of Gruppo Zamparini with initial investment priorities for Palermo Calcio, namely the stadium and the training ground.
"The objective of the investors is to return the club to the position the city deserves, EUROPE [sic], with a three to five year program."