CSKA cuts debt and costs but still seeks sponsor and faces legal battles

Meanwhile, Todorov added that the club’s debts were reduced almost with 50% and at the moment the club has obligations to the extent 15 million leva (€7,5 million). Currently the club has no main sponsor and the boss of the Reds said if there is someone who is willing to sponsor the club should prepare a total of about €1 million per year.

“If someone wants to sponsor CSKA, the minimum is €1 million per year. That is the amount that corresponds to club like CSKA. The salaries of the players now are about 35% lower than the salaries during the former owners of Titan. The salaries are normal for from the Top 6 in Bulgaria. The monthly wages at Ludogorets, Levski and Botev Plovdiv are much higher compared to the wages at CSKA,” said Todorov.

“As you know, we (the new management) have taken the club in a very difficult situation. The club was heading for bankruptcy. CSKA’s debts at that time were over 35 million leva (€17.5 million) . From July until now, we managed to melt this amount and at the moment the obligations of the club are in between 15 and 16 million leva (€8 million). Currently we have about 45 lawsuits against CSKA. Almost all of them are against the former owners, and another group taken out by officers of the club for unpaid wages,” added Todorov.

At the same time the head of the international department, Vladimir Rupov, clarified the situation regarding lawsuits against the club.

“Many of the cases against CSKA are led by former players of the club. All are represented by one lawyer. I don’t want to mention his name (a former attorney of the club, who was previously fired). At the moment we are collecting evidence and will sue over the drain (of money) out of the club and large amounts of financial fraud,” said Rupov.

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