PFC CSKA Sofia has undergone a notable change in ownership, with the “CSKA – Red hearts” Foundation, spearheaded by Valter papazki, now holding a controlling stake in the club. The transition, announced today, saw “Fond Sport” Ltd. relinquish it’s entire shareholding in CSKA EAD without financial compensation, marking a pivotal moment for the storied Bulgarian football institution. Papazki, a long-time supporter and key figure in the advancement of the forthcoming new Bulgarian Army Stadium, aims to revitalize the club’s performance both domestically and within European competitions.
A significant ownership change has taken place at PFC CSKA Sofia, as the “CSKA – Red Hearts” Foundation, led by Valter Papazki, has become the new controlling owner of the club. The transfer comes as “Fond Sport” Ltd. has relinquished its 100% stake in CSKA EAD without compensation, the club announced on its official website.
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Papazki, a prominent Bulgarian businessman, has been a key supporter of CSKA for several years and was instrumental in the development of Bulgaria’s most modern stadium, which is slated to open its doors to the “Reds” in the coming months. He has expressed a strong ambition to restore the club to its former glory, both domestically and in European competition. Under his guidance, CSKA is also investing in a state-of-the-art youth academy.
Here is the full club statement:
“The ‘CSKA – Red Hearts’ Foundation was established in 2025 by Valter Papazki, with the goals of providing financial, institutional, and media support to PFC CSKA, working to enhance the club’s reputation and unite its supporters, as well as supporting significant former players, athletes, and figures associated with CSKA. The foundation’s objectives also include supporting clubs in various sports that bear the name CSKA.
At this stage, no changes are planned for the club’s structure or leadership. Operations at CSKA will continue as normal.
There is no change in the stated goals: returning CSKA to the top of Bulgarian football and European tournaments, and building a successful youth academy.
The primary priorities for the club remain the reconstruction of the Bulgarian Army Stadium and the club’s training base in Pancharevo, as well as the development of the youth academy’s facilities. Work on these projects is continuing uninterrupted and according to schedule.”
