By Alexander Krassimirov
June 27 – The construction of top Bulgarian club Botev Plovdiv’s new stadium has been halted after financial issues surrounding problems with Corporate Commercial Bank AD (CCB Plc). The club announced that the construction has only been stopped temporarily.
Botev is owned by banker Tsvetan Vasilev, who owns also Corporate Commercial Bank. A week ago, the Bulgarian National Bank placed under special supervision CCB Pls and blocked payment of all money transfer from its accounts.
“Following the decision of the Bulgarian National Bank (BNB) to freeze all payments to businesses and citizens accounts in Corporate Commercial Bank (CCB Pls), FC Botev Plovdiv inform the public that all current accounts of the club are blocked and have thus disturbed the mechanism of payment to suppliers and contractors working on the repairs of the stadium Hristo Botev,” reported by Botev.
The club said they would inform “the public in time for new changes related to the implementation of this responsible project.”
Botev Plovdiv acquired the Hristo Botev stadium on concession for 35 years. In its proposal for the facility, the club announced plans to invest €10 million.
Currently the club plays its home games in Komatevo district, near Plovdiv, where the club also has training facilities. Last season the club announced that will accelerate the construction of the new stadium in order to be completed by spring of 2015.
Contact the writer of this story at alexander.krassimirov@ insideworldfootball.com