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. Last Updated: 07/27/2016

Napoli: In the Red

NAPLES, Italy () -- Napoli president Corrado Ferlaino warned that the debt-ridden former Italian soccer champions were in serious danger of going out of business.

"Napoli are in their death throes and no one seems to realize. Maybe the problem is being undervalued," Ferlaino said Wednesday.

"We need 9 billion lire ($5.6 million) in the next 10 days," he said. Napoli, champions in 1987 and 1990, are trying to balance their books in time to claim a place in the new Serie A season which begins Aug. 27.