By Alexander Krassimirov
February 18 – With one Bulgarian club owner facing a possible prison sentence for fraud, another, Levski Sofia Todor Batkov (pictured) has said he has had enough and has announced he is ready to sell his shares in the club.
Some media in the country labeled Batkov’s decision as a “historical moment”. He is a longtime owner of Bulgarian club, but in recent years has been heavily criticised for his management and refusal to sell up.
Batkov is to sell his shares through financial donations in the club and with each purchased share, the share of the lawyer in Levski will decrease. Batkov said that the financial situation of the club is very hard and Levski need “fresh money”.
“My appeal is to anyone who can, to pay some amount of money in this difficult time, to donate to the treasury of the club against which they will receive from me a gratuitously respective stake. He will become a shareholder, will participate in the general Assembly and feel concerned about the fate of the club, “said Batkov in an extensive interview on the club’s website.
Batkov owns 18.5 million shares as an individual and another 10 million shares via Cypriot offshore company Digeraso Limited. “These are shares that have been paid for by me and the capital is registered with the commercial register,” said the lawyer.
Batkov said that the current proposal is very different to the failed IPO that rivals CSKA Sofia attempted.
“We are talking about existing shares which are fully paid by me and are my possession. I am free to pass them to whoever I want. The share issue by colleagues from CSKA was to increase the capital of the club and was in the form of a public offering of shares. As we know, it failed. My initiative is not in the nature of a public offering of shares. I have already consulted with the Financial Supervision Commission, “said Batkov.
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