By Alexander Krassimirov
July 22 – The Bulgarian tax collector, the National Revenue Agency (NAP), has failed to find a buyer for the CSKA Sofia brand (it’s logos and trademarks) and has dropped the asking price by 20%, to BGN2,944,288 (€1,472,144). This is the second time it has lowered the price.
In a bid to chase down some of the BGN11 million (€5.5 million) owed to it by CSKA Sofia, the NAP put the marks up for sale for BGN3,680,360 (€1,840,180). But with no buyer coming forward the NAP has said that another ‘silent’ auction will be held.
In the first action anyone wishing to participate had to make a deposit of 20% of the opening bid price – BGN736,072 (€368,036) – by July 1. Any bids sent in were to dealt with as sealed bids. The NAP has not made it clear what will happen next if no bidders meet the new reserve price.
CSKA failed to receive a license for the new season because of colossal debts which exceeded BGN23 million (€11.5 million). Bulgaria’s richest man and a former owner of CSKA, Vasil Bozhkov, said he would take over the management of the club, which will start the new season in the amateur leagues.
To do this he had to register a new company – the old company’s CSKA marks were put up for sale by the tax collector. It was anticipated that Bozhkov would enter the auction to buy the name and logos as he rebuilds the club as it would be a cheaper route to retaining the trademarks than having to settle all the old CSKA’s debts.
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