Bulgarian Side Levski Sofia Owner Says Club Will Spend 75% Of $5M '15 Budget On Salaries

Bulgarian side Levski Sofia Owner Todor Batkov has “announced that the club's budget for next year will amount to BGN 8M” ($5M), BGN 6M ($3.75M) of which will be spent on club salaries -- players and officials, according to Alexander Krassimirov of INSIDE WORLD FOOTBALL. Batkov admitted that the club is in a “very poor financial position and there may be problems with passing the financial licensing criteria” for entry to European tournaments. The coming week is “crucial for the club” as Batkov will hold meetings with three sponsors who he “hopes will provide most of the budget” for next year. Batkov added that he will keep his promise and will provide 15% of his shares to the club's supporters. However, they will be required to provide a sum of BGN 1M ($625,137) per year to support the club. It is expected that “both sides will sign a contract soon” (INSIDE WORLD FOOTBALL, 12/19).