October 26 – Bulgarian second-tier club Pirin Blagoevgrad is on the brink of bankruptcy after majority owners – Georgi Spasov and Milen Stefanov – announced they will cease financing the club at the end of the calendar year.
Their intentions to leave the club were communicated to the Mayor of Blagoevgrad Municipality, Metodi Baykushev, during an informal meeting.
The two businessmen said their reasons for withdrawing from the management of Pirin, are “complex – both personal and financial.”
Spasov and Stefanov announced their decision in a message to the media and the football community in Bulgaria.
The announcement came as a surprise just days after the club submitted all documentation to secure their conditional license from the Bulgarian Football Union for participation in the Mr Bit Second League.
“The reasons for this decision are complex – both personal and financial. After years of effort, dedication, and significant resources invested, we have come to the conclusion that continuing this commitment now has a negative impact on our core business activities and our personal balance,” said the statement.
“Nevertheless, our responsibility to the club and the people who love it obliges us to remain committed to ensuring the normal functioning of PFC Pirin until a sustainable solution is found. We will continue to support the club in the coming months – until the end of the calendar year – with the aim of guaranteeing stability and a normal sporting rhythm.”Their shares in the company will be officially offered to minority shareholder ‘OFK Pirin’ EOOD, with the decision regarding the potential acceptance of those shares in the hands of the Blagoevgrad Municipality – the Mayor and the Municipal Council.
“We also inform you that in the event of a potential investor ready to immediately take over the management and development of the club, we are ready to provide our shares with immediate effect. Should the municipality decide to accept the shares, or a new investor be found, PFC Pirin Blagoevgrad will be transferred without any liabilities whatsoever,” said the statement.
“Our wish is for the process to be transparent, calm, and solely in the interest of the future of Pirin – a club with history, traditions, and public significance for the entire region.”
Contact the writer of this story, Aleksander Krassimirov, at [email protected]