Levski’s building business applies for planning but stadium finance uncertain

March 4 – Bulgaria’s Levski Sofia has officially submitted documents to re build the Georgi Asparuhov stadium to the Sofia Regional Administration and the Ministry of Youth and Sports of Bulgaria through its newly formed company ‘Georgi Asparuhov Stadium’ EAD.

“On 29.02.2024 (Thursday), through the purpose-built project company ‘Georgi Asparuhov Stadium’ EAD, PFC Levski AD officially submitted to the Sofia Regional Administration and the Ministry of Youth and Sports, an application to start a procedure for establishing a free right to construction of the Georgi Asparuhov stadium,” said a club press release;

“In fulfillment of the requirements of the Law, an investment program accompanying the request of PFC Levski to acquire all the rights to invest and manage the stadium in the long term was brought to the attention of the responsible institutions.

“We believe that our team has taken the first and most important step towards building a new home for our beloved club. It is a motivation and responsibility to follow the right path together – all of us, in the name of Levski, says the statement from Levski.”

While the third-party vehicle has applied for the right to build, it is not yet clear whether club has found an investor to finance the reconstruction, or whether negotiations are still to take place.

The Ministry of Youth and Sports and the Sofia Regional Administration have not yet commented on the case.

Last week, Levs paid a significant part of their debt to the National Revenue Agency saying they will pay the rest of the principal of the debt to the NRA by mid-April.

Contact the writer of this story. Aleksander Krassimirov, at moc.l1713517097labto1713517097ofdlr1713517097owedi1713517097sni@o1713517097fni1713517097