Maurizio Zamparini saw Palermo bounce back to the top flight at the first attempt last season, courtesy of a title-winning campaign in Serie B.
Ahead of their return to Serie A, Zamparini is eager for coach Giuseppe Iachini to follow in the footsteps of Atletico boss Diego Simeone.
Simeone's Atletico broke the duopoly of richer rivals Barcelona and Real Madrid to win La Liga last term, while also reaching the UEFA Champions League final.
"I want to start a cycle with [Giuseppe] Iachini. He signed a two-year contract with the option of a third year," Zamparini explained of the man he appointed in September.
"I'm not exaggerating when I say that he can make Palermo the Italian Atletico Madrid.
"It's the new line that football has to take.
"The market of Palermo is locked but it is not just our problem, [it is] a problem that runs through Italian football."
Zamparini spoke recently about his desire to keep hold of Uruguay international Abel Hernandez, but would not be drawn on potential arrivals at the Stadio Renzo Barbera.
"[At the World Cup] In Brazil, I saw several interesting players, but I do not name names - even under torture."
