Indian steel magnate Pramod Mittal was confirmed on Tuesday as Bulgarian premier league club CSKA Sofia's new owner.
The purchase of CSKA was officially announced by previous owner Vasil Bozhkov's representative in a statement, which followed Mittal's advisor Alexandar Tomov's disclosure of negotiations for acquisition of the club on Monday.
"As a personal PR of Vasil Bozhkov I am authorized to inform that the negotiations for the sale of a 100 percent stake of CSKA were finalized on December 4," said Irina Sarachinova.
"Pramod Mittal is the new owner of CSKA."
Pramod Mittal, together with his brother Vinod Mittal, run the steel giant Global Steel Holdings (GSHL), who control 71 per cent of Bulgarian steel mill Kremikovtzi.
The pair are the younger brothers of Lakshmi Mittal, fifth in forbes.com's list of world's richest people, with a net worth of $23.5billion.
The acquisition of the 30-timesBulgarian champions has increased speculation that a new coach will take the helm.
A club official, who wished to remain anonymous, told reporters that talks had been held with former England coaches Sven-GoranEriksson and Bobby Robson.
CSKAcoach Plamen Markov, who replaced Yesic in April, said he was uncertain of his future.
"Ihave no idea what will happen with me," he said. "It will be clear in the next few days."
CSKA are second in the standings with 37 points from 15matches, two points behind bitter city rivals Levski. The Bulgarian championship will resume after the winter break.