July 3 – Bulgaria’s Levski Sofia have announced that the club have repaid a debt of nearly BGN 4 million (€2 m). The debt was owed to the Bulgarian construction company Glavbolgarstroy (GBS), which began the reconstruction of the Georgi Asparuhov Stadium years ago, but construction activities were subsequently suspended due to a lack of funding.
A club statement said: “Following negotiations between the majority owner Mr. Nasko Sirakov, and the management of GBS, the club reached a final agreement, which repaid a debt of over BGN 3.8 million, related to the construction of Sector A at the Georgi Asparuhov stadium.
“The obligation was established by a court settlement in 2020 and initially postponed until January 2025. After the maturity date, the two parties agreed on a significant reduction in the amount of the debt, and the remaining amount was fully repaid by the club by June 30, 2025. With this, the obligation to Glavbolgarstroy AD is finally closed.”
The club also informed that at the end of June, they had made payments to the National Revenue Agency of BGN 1.6 million (€800 000). Nearly BGN 1.4 million of the amount in question is profit tax for 2024, while the remaining amount is a contribution under the agreement between Levski and the National Revenue Agency for the deferred payment of interest on the club’s obligations to the state.
“By fulfilling these commitments, the club reinforces its commitment to financial discipline, consistency and sustainable development. PFC Levski continues to fulfill all its current obligations in a timely manner, without allowing new arrears, and is gradually eliminating inherited obligations from the past. The club’s management thanks all partners and institutions for the trust and constructive dialogue, as well as the supporters for their continued support,” Levski added.
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