By Alexander Krassimirov
April 29 – A former striker for Atletico Madrid and former Bulgarian coach Lyuboslav Penev (pictured) has taken on the job of head coach at one of the country’s biggest clubs, CSKA Sofia – unpaid. Penev will work without salary for the remaining five games of the season when his contract will expire.
Plagued by financial troubles, the club still lead the Bulgarian championship in the first half of the season, but when Spring came the club fell into crisis on the pitch as well as off it. CSKA has not scored in eight consecutive games – the team’s last goal in an official match was 13 December 2014.
Penev is a legend at CSKA Sofia. After the end of his playing career in 1999, Penev became president of the club for nearly two years. He coached the team in 2009-2010 when he replaced his uncle and another Bulgarian great, Dimitar Penev.
CSKA has been in ownership turmoil in recent months. After the transfer of the main package of shares to new owners and change of the management of the club, coach Stoycho Mladenov resigned, with Galin Ivanov, the youth academy coach, stepping in to do the job. Ivanov struggled and after just a few games has been replaced by Penev.
At the same time the new majority shareholder in CSKA, Ivaylo Mandzhukov, said it may be time to call in the financial police authorities into the club to help get an understanding of what the club’s debts actually are.
“We have been the major shareholders for a few days, but we do not know what the financial situation of the team is. This is not normal. To date, any amount mentioned would be speculation. It is time to stop speculation. If needed, let’s get the economic Police and Prosecutor’s Office into the club. The Red’s public should be aware of the financial situation of our club,” said Ivailo Mandzhukov.
“You can not expect us to support our club, we do not have this financial opportunity. My wish is to save the club from bankruptcy. I’m emotional, but the financial situation is critical. To find a remedy we must be able to make a diagnosis. There is no way to become large investor, not knowing where enter and what to expect, ” he added.
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