By Alexander Krassimirov
August 22 – The construction of Botev Plovdiv’s Hristo Botev stadium will restart next week after the club’s owner, Tsvetan Vasilev, decided to transfer his shares to his business partner Veselin Bushev.
In July, the stadium construction work was frozen following trading problems at the Corporate Commercial Bank, which is owned by Vasilev.
Botev has use of the stadium on concession for 35 years and had announced plans to invest BGN 20 million (€10 million) in an extensive refurbishment.
The building works will be resumed by the Integrated Road Systems (IPS-BG) construction company, which together with the Technology Center – Institute of Microelectronics AD (TC – IME AD) holds 90% of the shares of the club – IPS-BG’s share is 59%.
All of Botev’s shares were transferred to Bushev a few days ago, but official confirmation of the change in the shareholding cannot be completed until there is a general meeting of shareholders.
After Corporate Commercial Bank’s problems and the issue of an arrest warrant for Vasilev, Botev’s budget was drastically reduced with the highest player salary being capped at € 3,000. This led to n exodus of almost all the club’s foreign players.
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