Torino President Urban Cairo has put the club up for sale after having lost €30m since his arrival in 2005.
The Granata were relegated last season and currently lie 11th in Serie B, having sacked Stefano Colantuono, hired Mario Beretta in his place only to then bring Colantuono back.
Torino fans have grown increasingly frustrated with Cairo who has seldom enjoyed their support in his five years in charge.
Speaking to La Stampa, Cairo said: “I don't want to stay in Heaven in spite of the saints. I say it reluctantly, very, very reluctantly. I have decided to sell Torino.
“Before this interview Torino weren't for sale. I have stayed quiet for two months. I let the pitch speak. But after the defeat to Salernitana, the criticism started again and the Press campaigns. And now I return to speak, to say that I am selling.
“Whoever wants to buy Torino has to have something more than me in every field: they have to be richer, more capable, more organised and more of a fan even if to be so too much can become a problem.
“It would be better if they were from the region and from Torino better still,” he concluded.
FT