By Alexander Krassimirov
July 15 – The new owners of Bulgaria’s Levski Sofia have taken emergency measures to financially stabilize the club, imposing a wage limit on players in advance of the new season.
The club will now operated under a self-imposed salary cap, particularly aimed at controlling the cost of foreign players, and on a dramatically reduced annual budget. The announcements were made by Levski board member Ivo Tonev (pictured).
The highest earning players will have their salaries capped at BGN12,000 (€6,000) per month, while the monthly budget for salaries at the club will be reduced to BGN200,000 (€100,000).
“The budget of Levski for the new season will amount to BGN 6.5 million (€3.25 million). BGN 1.5 million (€750,000) of this amount will go to the repayment of old debts. The budget for salaries will be reduced to BGN 200 000 per month (€100,000). Previously the budget was €130,000,” said Tonev.
“The salary cap for foreigners will be €6,000. We could reduce this limit if the new players who come to the club are less than we think,” he added.
Tonev said that Levski is currently in negotiation with a new lead sponsor for the club.
Contact the writer of this story at moc.l1734985353labto1734985353ofdlr1734985353owedi1734985353sni@v1734985353orimi1734985353ssark1734985353.redn1734985353axela1734985353