Aleksandar Tomov

Bulgarian football club CSKA has a new majority owner after Aleksandar Tomov announced his withdrawal on Sunday.

Negotiations were concluded on Monday and all documents have been signed, but the name of the new owner has not been revealed yet, daily Dnevnik reports.

Tomov withdrew as president of the supervisory council and from all management positions he held within CSKA.

Bulgaria's two most popular football clubs - CSKA and Levski have to repay their debts on Tuesday in order to be granted licences to secure their participation in the European tournaments and the domestic A Group.

The deadline for the two clubs to fulfill their obligations, amounting to BGN 800 000 for CSKA and BGN 805 000 for Levski, expires on Tuesday, daily Dnevnik reports.

The businessmen, who were considered as the probable new majority owners of Bulgarian football club CSKA, withdrew completely from the acquisition of the club.

Mandzhukovi family and Yuliyan Indzhov issued a declaration on Wednesday, in which they justified their reasons for the withdrawal, daily Dnevnik reports.

The construction entrepreneur Yuliyan Indzhov and his team started on Monday a financial inspection at CSKA football club.

Indzhov announced on Sunday that the inspection was important as it will influence his decision whether to become a majority owner of the club, daily Dnevnik reports.

Prosecutors have demanded a ten-year sentence for Aleksandar Tomov, who owns the CSKA football club, in an embezzlement trial that started in 2008.