Longstanding Owner of FC Levski  Withdraws

Sofia, June 24 (BTA) - Lawyer Todor Batkov, owner of FC Levski
of many years, announced his withdrawal from the club on
Wednesday. He made his decision public at a meeting of the
members of the Supervisory and the Managing Board of the Club at
its Gerena stadium.

"I have been part of Levski since August 1998. After October 23,
2000, the entire responsibility for the FC's management fell on
my shoulders. In March 2004, I practically became majority
shareholder with nearly 90 per cent of the shares and the entire
responsibility to fill the budget," he recalled. "In the last
couple of years things got worse here. My businesses are not
going well, the market has shrunk. I no longer have the
potential to continue funding the club, as I did before," he
explained.

Batkov said he will assign 98.2 per cent of his shares to Ivo
Tonev, the chairman of the Levski Managing Board, and two other
people: Alexander Angelov and Nikolai Ivanov. Angelov is a
member of the Supervisory Board and Ivanov is a new face in the
Levski management.

"We are conducting negotiations with a big company which can
become a main sponsor or shareholder. If this happens, the
shareholders will become four," he also said.

Batkov noted that FC Levski will not have a single majority
shareholder and will be managed only by the Managing Board,
under the control of the Supervisory Board and the fans. He
added that two persons will be responsible of the operational
leadership: Konstantin Badjekov will be in charge of finances
and Georgi Ivanov will hold the sport and technical power.

Batkov said that Levski owes around 4.5 million leva to the
National Revenue Agency and the goal is to clear all of the FC's
debts within three years.

Rumours about Batkov's pullout have been circulating since
Levski lost the final for the Bulgaria Cup to Cherno More on May
30.