By Alexander Krassimirov
February 10 – CSKA Sofia president Alexander Tomov has announced the club will launch the sale of 3 million shares in the Bulgarian club. He is targeting both fans and institutional investors with the share offering, though has not revealed a price as yet. He has said that some of the club’s former playing veterans and legends will be gifted shares.
Tomov said he hoped that the majority of the shares will be bought by the supporters of the club. Tomov, a former politician, also added that the club is currently negotiating with major sponsor over a potential €1 million a year deal.
“We made a serious study. We expect thousands of our supporters to buy shares. We will become the first club in Eastern Europe, which undertake such a step. If it worked, each lev will go directly to the club and it will be profitable. The money will be used primarily for the youth academy and development,” said Tomov.
“We’ll run into selling 3 million shares. We expect supporters to buy a large quantity. We hope that serious investors also will buy some of them. The owners decided to provide free shares for the veterans of the club. They are people who currently do not have money, but they were a symbol of the team. This group of veterans gave CSKA’s history, ” he added.
“We will announce the price of the shares within two weeks. All the supporters of CSKA will be able to buy shares form any bank in Bulgaria.”
No details of club valuation or market details have been announced, apart from the ability to buy shares at banks, or even what the final ownership structure of the club will look like following the owners’ dilution of their stakes.
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