October 24 – Just four days before the next parliamentary elections in Bulgaria, the country’s caretaker government has secured BGN 30 million (€15 million) for the reconstruction of the Varna stadium in the Black Sea city.
In an announcement by Bulgaria’s Council of Ministers, the state will receive 30,000 shares with a nominal value of BGN 1,000 (€500) each in the stadium.
The money will be provided by the budget of the Ministry of Youth and Sports of Bulgaria for 2024.
Construction of the Varna Stadium started in 2007, but it has never been completed due to a lack of funds.
“The Council of Ministers has decided that the state will acquire shares worth BGN 30,000,000 from the increase in the capital of Sports Complex Varna JSC. The funds are earmarked for the construction of the Varna stadium,” said an official announcement from the Ministry of Youth and Sports of Bulgaria.
“With the Decision, consent is granted for the state to acquire 30,000 new ordinary registered shares with a nominal value and an issue value of BGN 1,000 for each one after making a cash contribution in the amount of BGN 30,000,000.
“In this way, the public interest regarding the construction of the sports facility will be protected by the state…
“Varna Stadium is designed according to FIFA standards with the ability to host international sports events with a capacity of 22,000 seats. The complex is planned to be a set of facilities, buildings and infrastructure. The total deployed area of the entire facility will be 51,550 square meters. Of these, 23,130 square meters are planned for a parking lot with 716 spaces”, says the official announcement of the Ministry of Youth and Sports of Bulgaria.”
Contact the writer of this story, Aleksander Krassimirov, at moc.l1729768449labto1729768449ofdlr1729768449owedi1729768449sni@o1729768449fni1729768449