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President of the Bulgarian Football Union (BFS) Borislav Mihaylov. Photo: BGNES
The Executive Committee of the Bulgarian Football Union (BFS) will determine the fate of CSKA Sofia on Friday.
The Licencing Committee of BFS revoked the licence of CSKA and three other teams from the A Group on Wednesday.
At present CSKA has been deprived of licence for both participation in the domestic A Group and the domestic tournaments and the club has been placed under monitoring.
There is no opportunity for the team to regain its licence for the European tournaments as all deadlines have been missed.
However the team will appeal the revocation of the licence for the A Group, which could be restored only with the approval of the Executive Committee of BFS.
In order to regain its licence, CSKA will have to repay some of its debts, especially those towards the National Revenue Agency (NAP) as well as to present a recovery programme.
At present the building of BFS is under 24-hour guard, as there are fears that there might be a repetition of the 2013 attack, when CSKA fans stormed the premises.
There is a possibility for the present club to declare insolvency and a newly-established club to take over, with the new owners inheriting the old symbols and the emblem.
This has become an established practice in other Balkan countries, where the state managed to save prominent clubs in similarly troubled circumstances through employing different manoeuvres.
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