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SBD Global/August 19, 2014/Finance

Finance Notes: Bulgarian Club CSKA Sofia Has Received $6.7M In Funding In Past Year

Bulgarian football club CSKA Sofia President Alexander Tomov said that over the past year the club has received more than €5M ($6.7M) in funding. Tomov: "Now I will tell you where the revenues for CSKA have come from. The club received over BGN 10 million ($6.7M) since we took over. BGN 2.6 million ($1.7M) came from the club's main investor Lyra Investment company, BGN 4.4 million ($2.9M) from transfers, BGN 1.6 million ($1M) from shareholders, receivables from other clubs was BGN 700,000 ($400,900), from tickets BGN 800,000 ($534,500), there are other revenue in smaller sizes" (INSIDE WORLD FOOTBALL, 8/18). ... Southern League side Hereford United Dir John Edwards is confident the club "has been saved from extinction." Hereford still faces "winding-up petitions from HMRC and former manager Martin Foyle and assistant Andy Porter" on Sept. 1. However, the club is "now selling season tickets and approaching sponsors" (BBC, 8/18).
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