From 1993 to 2004

From 1993 to 2004

From Ferlaino’s farewell to bankruptcy

Corrado Ferlaino left the team in 1993, but did not give up his majority of the stock until a year later, in 1994. It was initially divided into three parts, between the Gallo father and son (Elleno, previous Azzurri Manager, and Luis), Mario Moxedano, a building contractor from Mugnano, and Setten, a businessman from Friuli specializing in kitchens. Mario Moxedano soon resigned, however, worried that Ferlaino would come back and also that the company was up to its ears in debt. Gallo and Setten each now had 46.5% of the shares, while the remaining 7% was in the hands of smaller shareholders, including Ferlaino.

As the result of a civil court order that effectively annulled several of the resolutions taken by the Napoli Board of Directors, including one approving the share transfer, the parcel of shares was reassigned to Ferlaino – together with all its debts.

The 1997-98 season saw Napoli in seventeenth place in Serie A, with a bare 11 points, so that it fell back into Serie B. Two years later, under the direction of Walter Novellino, it returned to Serie A.

Just as the championship was winding down, a new partner entered the scene – Giorgio Corbelli, from Romagna but living in Brescia, telemarketing king and owner of two TV stations. Corbelli paid the Civil Court Bankruptcy Section the equivalent of 50 million euros, thus acquiring 50% of Napoli’s stock and becoming its new President, with Corrado Ferlaino as Managing Director. Corbelli insisted that Ferlaino hire Zednek Zeman and break the contract with Novellino, who had in fact led the team into Serie A.  After the Zeman experiment failed, Mondonico was taken on, and Napoli experienced a second relegation to Serie B in three years.

They hoped De Canio would help them in their fight to get back into Serie A, but they just failed to make it.

Salvatore Naldi, a Neapolitan businessman in the hotel sector, now tried his hand.  Naldi and Corbelli – after endless altercations and legal battles – bought Corrado Ferlaino out and took over the company. Things took a turn for the worse, however, when Corbelli was arrested in a telemarketing scandal.  In May 2002, Naldi  bought 98% of Corbelli’s shares.

Naldi, on his own and without resources or players of sufficient talent, tried to improve Napoli’s standing.

However, although he brought in a new coach, the team stayed firmly in B for the next two seasons.

Eventually, financial disaster caught up with the company, and on 2nd August 2004 it was declared bankrupt with a debt of 79 million euros.

According to the rules and regulations, it could not now participate in Serie B, so the only alternative was to try for Serie C1 – under new management and with a massive injection of funds.