Stoichkov Stands by Bulgaria's Litex Lovech - Report

Former Barcelona soccer player Hristo Stoichkov is presented as new Litex Lovech coach during a press conference in Lovech, Bulgaria, 05 January 2012. Photo by BGNES

The stint of Bulgaria's biggest football star and former Barcelona striker Hristo Stoichkov as coach of former champions Litex Lovech may not turn out to be that short-lived.

Stoichkov will remain at the helm of Litex Lovech, the Bulgarian News Agency reported, citing sources from the club and denying reports he may be appointed as coach of Turkish Super League team Besiktas.

The legendary Barcelona striker has been at the helm of last year's Bulgarian champions Litex Lovech over the past six months. However, Litex recently lost its sponsorship and the club is expected to sink into oblivion next season.

Hristo Stoichkov, one of the legendary Barcelona players in the 90's, has had a rather disappointing career as a coach, his last club being South African Mamelody Sundowns.

This is the first time that he is coaching a club in his native country, but he is having a hard time now that sponsor and owner Grisha Ganchev ran into troubles with the tax authorities and his business empire was rattled.

Besides coaching Litex Lovech, Stoichkov has also engaged in promoting the products of Chinese car company Great Wall Motor Co, whose Bulgarian partner Grisha Ganchev is.