Bulgarian Club Levski Sofia Settles $1.7M In Debt To Former, Current Players, Coaches

Bulgarian football club Levski Sofia has paid more than BGN 3M ($1.74M) in "debt settlement" to former and current players and coaches, according to Alexander Krassimirov of INSIDE WORLD FOOTBALL. Ivo Tonev, one of the club's majority owners, announced the news. In the period from March 1 until now the club has paid a total of BGN 700,000 ($405,000) to former coaches, players and clubs, and another BGN 2M ($1.2M), which were "unpaid salaries to the current players, coaches and staff of the club." Last week the club revealed it paid about BGN 400,000 ($231,400) to the National Revenue Agency (NAP). Currently Levski still owes another BGN 400,000 to former players and managers, but Tonev said that "they will be repaid by the end of the year." Tonev revealed that Levski has a new sponsor, which will be presented on Wednesday, which it has been negotiating with for more than two months (INSIDE WORLD FOOTBALL, 9/14).