By Alexander Krassimirov
June 3 – After its failed attempt at becoming a publicly-owned company on the Bulgarian Stock Exchange, CSKA Sofia looks to have dragged itself away from the possibility of bankruptcy with the appointment of one of Bulgaria’s biggest businessmen, Petar Mandjukov (pictured), to the board.
Mandjukov has immediately stumped up the cash to secure the club’s license from UEFA and current club president Alexander Tomov has announced that the club budget for the coming season will be between BGN8 and 10 million (€5-6 million).
The changes in the structure of the club took place at a shareholders’ meeting a few days ago. The size of Mandjukov’s investment and shareholding has not been revealed.
“For next football season CSKA will have a budget of between 8 and 10 million leva . We need to build on what we have achieved this year, after we saved the club from bankruptcy,” Tomov.
He also announced that there will be a changes in the marketing strategy of the club, which he said was “very weak”. Tomov said the club has plans to launch its own TV channel and club publication, mirroring the commercial activity of other European clubs.
“We’re looking to launch club TV next year. Moreover, we want to make our newspaper. Hopefully, there will be a demand. If we could sell 10 000 units a month, that would be good. We will develop all our marketing, including fan our stores. At the moment our shop network is very weak. Currently we have no links to the Asian market, where we could produce goods and products at a much lower price. But the priority up to this point has been to save the club. Now we have to accumulate funds,” added Tomov.
Funds are also available to start work on repairing one of the stands of the CSKA’s Bulgarian army stadium, which should be completed by the start of the new football season in Bulgaria.
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