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Bulgarian Side CSKA Sofia Will 'Disappear' If Franchise Gets A New Owner

Bulgarian side CSKA Sofia looks "set to disappear from the country's football map" if ownership negotiations over the franchise and its name are completed, according to Alexander Krassimirov of INSIDE WORLD FOOTBALL. Litex Lovech Owner Grisha Ganchev is "currently in discussions to rename the club 'CSKA.'" CSKA Sofia "lost its license to participate in European and Bulgarian championships, failing to pass the financial criteria." But in an attempt to "keep the name alive in the top league," Ganchev and former CSKA Owner Vasil Bozhkov -- who is Bulgaria's richest man -- are "looking to do a re-naming deal that would assume the CSKA Sofia brand and heritage and see Bozhkov return at the head of the Bulgaria's most successful club." On Friday a Bulgarian Football Union ExCo extraordinary meeting will "decide on the final fate" of CSKA Sofia and Lokomotiv Sofia, which both failed the licensing requirements -- mainly due to "huge tax debts, unpaid player wages and unpaid agent commissions." Bulgarian Sports Minister Krassen Kralev said that there is a situation in which Litex "could be converted to CSKA." However, the new club would "lose the right to participate in Europe for at least one year." Kralev: "Several options are being discussed publicly. One of them is the renaming of Litex and CSKA, which means changing the headquarters, club colors and logo" (INSIDE WORLD FOOTBALL, 6/17). 

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