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Chorny Drops Bulgaria's Levski FC

Sports | January 4, 2005, Tuesday // 00:00

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Notorious Israeli businessman Michael Chorny has reportedly decided to cut all costs for Bulgaria's Levski FC, which the Russia-born man currently owns.

The move could leave the club stony broke, as it has already faced a serious financial crisis.

At the end of 2004, all players and administration at Levski saw their pay cut because of the team's financial trouble.

The monthly salaries of coach Stanimir Stoilov and Executive Director Nasko Sirakov were reduced by 30%, to BGN 5,600 and BGN 3,500.

Chorny reportedly told Sofia-based Gong radio station that he was practically out of the managing process.

The Russia-born businessman said that no offers from potential buyers have been submitted yet.

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