In many of Bulgaria’s popular soccer clubs are undergoing dynamic processes that in structure and organization are comparable to that in their larger European counterparts. There is an obvious trend of football brands gradually going into the hands of big corporate capital. Times of single person owners seem to be gone now. Popular figures from the early ears of the Period of Transition as Mr. Gigov and Todor Batkov are increasingly difficult at finding ways to provide money for football projects and are actually willing to part with their clubs.
At the forefront of the most popular game, more often now stand financially sound companies for which ownership of a football club is a good way to advertise their business. This model has long been known in Europe. Very good example is Silvio Berlusconi, who first created the largest media empire in Italy – Mediaset, and then the group bought Milan to legitimize itself on the market. Similarly, the Agnelli family has been associated for decades, except with the Fiat plant, with the Italian giant Juventus. In fact, Bulgarian symbiosis between business and football team, is being built more cautiously and slowlier because of the existing barriers of all sorts. Recently, the practice shows that prospective owners enter clubs initially as sponsors to make sure that future projects can be profitable.
Only during the 2011-2012 season two teams of the premiere group A have witnessed silent coups. It is only a matter of days for Mr. Gigov to announce he is withdrawing from Locomotive team. The new board of the club is expected to include representatives of the big business. It is argued that future investors are preparing general organizational reforms, which include revamping the team’s stadium. Among the names mentioned as it is the owner of Sopharma – Ognyan Donev, and although he denied an interest in the football club, such a move is possible, because this company could regain its shaken image after the recent scandals around drug prices.
Search for a positive image and good standing on the Bulgarian market are key factors for the gradual entry of the Russian Vneshtorgbank (VTB) into the Sofia grand Levski. Officially it is still just a sponsor of the blue team and has committed to provide it with EUR1.5 million . But it is clear that this aid will not be against nothing and is very probably part of a long-term strategy.
About a year ago financiers entered into the football business through Corporate Commercial Bank that acquired the ownership of one of the most popular and much supported clubs – Botev (Plovdiv). Its majority owner Tzvetan Vassilev boght a 90-percent stake in the canaries and 10 percent remained in the hands of Botev Plovdiv Association, composed of businessmen, veterans and fans. The most successful club in Plovdiv was transformed into a joint stock company presided over by July Popov, who has run a modern business model in the club.
A curious management pattern can be observed in Chernomorets, where the Chairman of the Board of Directors is the head of Petrol Holding, Mitko Sabev.
The pride of Stara Zagora – Beroe recently became part of the assets of the Maritsa-East II, which in turn is part of the Bulgarian Energy Holding. The Company was incorporated with a registered capital of BGN50,000 and managed by a board of directors of the parent company based in Kovachevo.
