Soccer-Stoichkov’s CSKA Sofia declare bankruptcy, seek merger (Reuters)

* CSKA need merger to play in first division * Club will not take up Europa League spot * Shares transferred to manager Stoichkov By Angel Krasimirov SOFIA, June 22 (Reuters) – Bulgaria’s most successful club CSKA Sofia declared bankruptcy on Saturday and will seek a merger with another club to play in the top flight next season, said coach Hristo Stoichkov. “CSKA that we know exists no more,” Stoichkov, who was named coach of his former club earlier this month, told a news conference. “We’ll start afresh, without debts. …

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