Bulgarian great Hristo Stoichkov named CSKA Sofia single shareholder

Hristo Stoichkov

The owners of Bulgarian side CSKA Sofia announced Saturday that they have transferred the full package of shares in the debt-ridden team to football legend Hristo Stoichkov.

“After talks with Hristo Stoichkov today we took a common decision to transfer him all the club’s shares,” CSKA owners Dimitar Borisov and Ivo Ivanov said in a statement.

“We, as owners have absolutely no financial claims… and undertook this action because of the grave financial situation of CSKA and our inability to support the club.”

Stoichkov, who was named CSKA coach earlier in June, will decide the club’s fate from now on, the two businessmen added.

The 47-year-old star striker — who scored 35 goals in 83 international appearances and became the 1994 European player of the year after helping Bulgaria reach the World Cup semi-finals the same year — was named CSKA coach earlier in June.

One of Bulgaria’s most popular teams, CSKA finished third in the Bulgarian League last season, nine points behind champions Loudogorets despite severe financial difficulties and frequent coach changes.

Speculation has been rife in the media recently that Borisov and Ivanov were looking into options to shed their ownership in the debt-ridden club by transferring its shares to one or more businessmen, who were willing to support it.

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