New Parma president Giampietro Manenti is confident the club's debts will all be paid off by the end of this month.
Manenti is the chief executive of Mapi Group, the Slovenian-based company that bought strugglers Parma this week for one euro.
Mapi Group became Parma's third owners this season after Tommaso Ghirardi sold the outfit to Rezart Taci's Albanian-Russian-Cypriot conglomerate in December.
La Gazzetta dello Sport reports that Parma's debts stand at 96 million euros with the players owed wages dating back to July 2014, while Antonio Cassano and Felipe have had their contracts rescinded at the players' request.
"Parma's debt is not what I've read in the newspapers," Manenti told Parma's official website. "We hope to pay off the income tax by the 16th [February] and a few wages.
"Then between the 20th and 22nd [February], we will try to pay off everything else."
Parma, at the foot of the Serie A standings, were deducted one point by the Italian football league earlier this season as punishment for the club's financial irregularities in the 2013-14 campaign.
The Ducale club could face a further three-point deduction if it does not pay the income tax on time.
"From a financial standpoint, the 16th [February] is a very important date to avoid a three-point punishment," Manenti said. "We are hoping to avoid that."
Despite the financial struggles and a dismal season so far, Manenti believes the club can climb off the foot of the table and out of the relegation zone.
"The team is not giving up," Manenti said. "I don't think it's impossible to win 10 of our 17 remaining games.
"We have explained to the players the hurdles to clear when acquiring a club that has some deadlines to meet immediately.
"We have found true professionals and while this situation can affect them psychologically, I don't think it will affect the sporting side.
"They have understood that we are working in a certain manner and I've seen the players more relaxed."
Parma are 10 points adrift of safety and host Chievo on Wednesday evening in a game that was rescheduled from Sunday because of heavy snow.
Due to their financial issues, Parma, who finished sixth last season, were not allowed to play in the 2014-15 Europa League.
They were not granted a UEFA license by the Italian Football Federation.