Home » BUL: Depts piled up – Bulgarian Federation in financial collapse!

BUL: Depts piled up – Bulgarian Federation in financial collapse!

by WoV
source: blitz.bg; Photo: sportal.bg

Bulgarian Volleyball Federation (BVF) is in a financial collapse. This is clear from the results of the financial auditing for the past year.

Konstantinov

Konstantinov

As blitz.bg writes, the depts of the institution that represents Bulgarian volleyball as of December 31, 2014 are over one million levs (579,000 dollars).

It turned out that 1.13 million levs (654,000 dollars) is the money that the International Volleyball Federation (FIVB) has not been divided yet.

Obligations of the BVF for various services and activities have continued to pile up and at some point they will have to be repaid.

The audit showed that a year earlier, on December 31, 2013, the obligations of BVF were less – 871,000 levs (504,000 dollars) .

Plamen Konstantinov, the head coach of Bulgarian Men’s national team admitted the dept of the Federation and noted that it still has no general sponsor.

 

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