KTB Majority Owner Withdraws from Botev Plovdiv PFC

Tsvetan Vasilev, the majority shareholder at troubled Corporate Commercial Bank (KTB), is transferring his assets in the football club of Botev Plovdiv to the team's fans.

Until now, fans were already in possession of a minor share in Botev Plovdiv.

Vasilev announced the news on his private website [BG], adding the decision was a result of a "total attack" aimed at fully tarnishing his reputation and also damaging that of "every person, every company, even every idea and dream" that have any relation to him.

"Realizing all this... I decided that the best way I could help you at this stage is to leave things in your hands," Vasilev's statement reads further.

Vasilev says he deliberated the decision a long time and that it was a tough one to take.

He confirmed he was the club's owner in 2011 and embarked on major projects to lead the team to success, but was forced to stem the flow on investment as the crisis at KTB began in the summer of last year.

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