April 11 – Bulgaria’s Levski Sofia is no longer at risk of bankruptcy, according to club owner Nasko Silakov.
At a specially arranged press conference, Shirakov (pictured) gave an update on Levski’s past financial year, in which it resolved debts of nearly 13 million levs (6.5 million euros).
Of this, 4 million levs (2 million euros) was paid to current liabilities, 2.5 million levs (1.25 million euros) was paid to settle overdue debts, and 6.3 million levs (3.15 million euros) was paid to the Bulgarian Tax Authority.
“PFK Levski paid the principal amount of Lev 6,342,000 to the Internal Revenue Service. Currently, for the first time, Mr. Levski does not owe a penny of interest. This time last year, he was accumulating interest of Lev 2,500 per day. Over the past year Current liabilities amounted to BGN 4 million and BGN 2.5 million was paid to distributors and suppliers,” Shirakov said.
Last year, Mr. Levski reached an agreement with the Internal Revenue Service to defer the debt owed to the country that he had accumulated over the years.
Currently, the club still has to pay interest on the principal amount, amounting to 3 million levs (1.5 million euros). However, these payments are not urgent and could take until 2027 to resolve, according to the contract with the NRA.
At the same time, Mr. Levski will have to pay nearly 2 million levs to the city of Sofia, and it is expected that this debt will be deferred.
The benefit to the NRA and the obligation to the City of Sofia will not affect the club’s license for next season.
“The interest deferred until 2027 has nothing to do with licenses or obligations to the municipality. From 2016 to now our debt to the city of Sofia is approximately 2 million levs. This amount is also spread over three years. The total non-interest-bearing debt is 5,762,000 (2.9 million euros). Levski will not accumulate a penny of new debt and will liquidate all current debts,” said lawyer Borislav Georgiev, member of the Levski board of directors. he said.
“The important thing was to sign an agreement with the National Tax Agency. They did not even try to talk to us. We paid more than 12 million BGN in total, almost 13 million BGN. As for other interest rates. There is no need to renegotiate anything. It is an internal decision whether to pay next month or next year. There will be no new interest. We will also negotiate with the city of Sofia.”
Please contact the author of this story, Alexander Krasimirov. mockle1712796794laboratory1712796794off dollar1712796794Owedi1712796794Suni@o1712796794Funi1712796794
