Novinite reported that Indian businessman Mr Pramod Mittal has signed a preliminary agreement for the sale of CSKA Sofia to Bulgarian company Titan.

Mr Nikolay Ishkov representative of Titan AC told reporters that "The purpose of this contract is to guarantee full exclusivity during the long technical procedure of transferring ownership."

No financial details of the deal, which is set to be finalized in the next two months, were made available.

CSKA Sofia said that "This is a Christmas present for all who those love CSKA.”

In June UEFA refused to renew CSKA license due to unpaid fees thus eliminating the Bulgarian champions from participation in UEFA's Champions League.

(Sourced from Novinite)