Player sales help Levski Sofia claw its way out of debt

February 26 – Bulgaria’s Levski Sofia has paid BGN1.15 million (€575,000) of its debts to the National Revenue Agency (NRA) . A few months ago, the club reached an agreement on rescheduling its tax obligations, which amount to nearly BGN 10 million.

The club also announced that they had paid BGN 800,000 (€400,000)  to suppliers and partners.

Levski said they will pay the rest of the principal of the debt to the NRA by mid-April.

The Bulgarian club’s coffers were swelled by the sale of several players during the winter transfer window, the money from which has been paid to the state.

“PFK Levski paid BGN 1,150,000 principal of the debt to the National Revenue Agency. According to the club’s financial calculations, by the middle of April 2024, the remaining principal amount of the debt to the NRA will be repaid.

“As of today, PFK Levski also paid BGN 800,000 to suppliers and partners of the club,” said a club statement.

“From the month of May 2023, the club regularly pays all current liabilities – VAT, general income tax and insurances and thus does not accumulate any new liabilities.

“The management of PFC Levski assures all supporters that it is doing everything possible to resolve the financial obligations as soon as possible.

“Thank you for your support of the club and the team. Our young team needs you,” said the statement.

Contact the writer of this story, Aleksander Krassimirov, at moc.l1712106731labto1712106731ofdlr1712106731owedi1712106731sni@o1712106731fni1712106731