Bostandjiev takes majority stake in Levski Sofia as Sirakov stays on as president
Bulgarian investor Atanas Bostandjiev has agreed to take majority ownership of Levski Sofia, keeping Nasko Sirakov as president and putting a proposed new stadium project at the centre of the club’s next commercial phase.
Levski Sofia have agreed a change in control that will see Bulgarian businessman Atanas Bostandjiev become the club’s majority owner, with incumbent leader Nasko Sirakov remaining as president but no longer holding shares.The shift is designed to keep day-to-day leadership stable while bringing in new capital and execution capacity, with Levski’s stadium redevelopment plan positioned as the key long-term revenue driver.Bostandjiev said: “It is a great honour to take ownership of PFC Levski Sofia. We have exciting plans to develop the new stadium and invest in the club.”Sirakov has presented the handover as the end of a stabilisation period in which he took responsibility during what he described as a critical phase for the club, with the priority on safeguarding operations and continuity.The ownership change also provides a clearer platform for external negotiations tied to infrastructure, financing and supplier contracts, particularly as clubs across Central and Eastern Europe look to modernise venues to lift matchday income, hospitality and non-football event utilisation.A central element of Levski’s plan is a new Georgi Asparuhov Stadium, with concept work presented alongside architectural and engineering firm IPA and total investment estimated at about €120m.Levski have indicated the design targets a capacity of 24,718 seats under Bulgarian Football Union requirements and 23,032 under UEFA standards, with construction expected to start in spring 2027.The project has been positioned as a multi-use complex capable of staging concerts for up to 40,000 people, alongside upgraded surrounding public space, which would broaden the asset’s revenue mix beyond football.Bostandjiev is the founder and chief executive of Gemcorp Capital, and has held senior roles in investment banking in London, including as chief executive of VTB Capital in the UK and as a partner at Goldman Sachs.Levski announced an extraordinary press conference led by Sirakov on April 24, with the club signalling discussion points around future strategy, identity and the current state of operations.Any immediate next steps are expected to focus on formalising the ownership structure, setting project governance for the stadium and defining how investment priorities translate into football operations and commercial growth ahead of the planned 2027 build start.