Bulgarian Side Levski Sofia Imposes Wage Limit On Players Ahead Of New Season

The new owners of Bulgarian football club Levski Sofia "have taken emergency measures to financially stabilize the club, imposing a wage limit on players in advance of the new season," according to Alexander Krassimirov of INSIDE WORLD FOOTBALL. The club will now be operated under a "self-imposed salary cap, particularly aimed at controlling the cost of foreign players, and on a dramatically reduced annual budget." The highest earning players will have their salaries capped at BGN12,000 ($6,700) per month, while the monthly budget for salaries at the club will be reduced to BGN200,000 ($112,000). Levski board member Ivo Tonev: "The budget of Levski for the new season will amount to BGN 6.5 million ($3.6M). BGN 1.5 million ($840,000) of this amount will go to the repayment of old debts" (INSIDE WORLD FOOTBALL, 7/15).