New Parma president Giampietro Manenti admits they must move quickly to wipe the club's debts.
Parma are believed to be €96 million in the red.
"We're in a race against time," said the President, as reported by ParmaLive.com. "We closed the sale on Thursday and we'll have the full board of directors next week.
"We're tackling the incumbent commitments directly. This morning, or tomorrow at the latest, the first payments will be made.
"We have a five-year plan and we're aiming for a number of steps, one of which is restructuring the club.
"We intend to bring the squad up to a certain level, even though everything's going wrong in terms of the League table this year and there were some matches we did not deserve to lose.
"We'll involve investors from outside of Italy too. One of our investors is Mapi Group. There are contributors from abroad that care not only about Parma but also about the province in general.
"Parma's debt is different from what has been reported. Mapi Group will cover the whole debt related to taxation and some of the salaries.
"On February 18, 20 and 22 we'll settle the salaries for all the previous months.
"This is not a toy, we want to develop it into an important project in terms of the sport but especially from a financial point of view."
