International

Bulgarian greats CSKA lose licence

2015-06-22 20:53
(File) (Shutterstock)

Vienna - Bulgaria's football union confirmed on Monday that the country's most successful club, CSKA Sofia, had lost their licence because of its debts.

"CSKA, which took part in the 2014-15 championship, have not received their licence and... have to play in the third division (next season)," the BFU said.

CSKA have won the Bulgarian league a record 31 times but have been beset with severe financial difficulties after being sold by businessman Vasil Bozhkov in 2006.

Since then the club has gone through frequent changes in ownership and numerous coaches and were already threatened with losing their licence in 2013.

Reports said the club had debts of 15.3m.

Monday's ruling came after CSKA on June 1 lost an appeal against losing their licence.

Read more on:    bulgaria  |  soccer
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