Bulgarian club Botev Plovdiv faces insolvency

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SOFIA, Feb 25, 2010 (AFP) - Bulgarian club Botev Plovdiv, which was suspended this week from the country's premier league over unpaid debts, is now facing insolvency, court officials said Thursday.

The Bulgarian tax authorities have filed an insolvency application against the club at a regional court in Plovdiv, claiming 2.0 million leva (1.0 million euros, 1.35 million dollars) in unpaid taxes and social security payments, the officials said.

The team, the oldest in Bulgaria, failed to secure a licence for Bulgaria's premier league ahead of the re-start of the season on Friday.

As a result, it will automatically be assigned 3-0 defeats in its remaining matches this season and relegated to the second division at the start of the new season.

However, the insolvency application might mean the club drops out of second division and into the regional amateur divisions, the daily Dnevnik reported.