The Beroe football club, based in Bulgaria's Stara Zagora, has been taken over by the state owned thermal power plant (TPP) Maritsa East 2 (Maritsa Iztok 2).

The state-owned company has acquired all 50 000 shares of Beroe FC from the previous owners "The Business for Beroe", a union of local businessmen in Stara Zagora, as a donation after the club has had funding issues.  

The Bulgarian Ministry of Economy, Energy, and Tourism and the Bulgarian Energy Holding, the parent company of TPP Maritsa East 2, have refused to comment on the acquisition of the football club.

Beroe FC is currently placed in the top league of the Bulgarian football championship, or "A" Football Group. Its greatest successes were in 1986 when it won the Bulgarian championship, and in 2010 when it won the Bulgarian football cup.

The management of the thermal plant has announced that it plans to work with the Municipality of Stara Zagora in order to improve the image of the football club and to work to develop the sport and youth football school in the southern Bulgarian city.

"All actions of the new management of the team will be in compliance with the legal rules and norms. The new owner will do all that is necessary to secure financially the football club in order to guarantee the successful work of the football players," the TPP said in its statement.

"With the acquisition of the team, TPP Maritsa East 2 EAD is declaring again its responsibility and commitment for the development of sports not only in the region but in the entire country," the company said.

The news about the new owner of Beroe coincided with the visit of Bulgarian Prime Minister Boyko Borisov in Stara Zagora Friday night, who promised the locals a new sports complex.