text: Vasilev was unexpectedly released from the club at the beginning of the second half of the 1997–98 season after a 3–0 win over Spartak Pleven. Coach Petar Zehtinski took his place. That year, the club saw the return of Hristo Stoichkov, Emil Kostadinov and Trifon Ivanov, but the three of them challenged each other for the captain's band. Stoichkov played in only four matches and left CSKA right before the derby with Levski to play for a club in Saudi Arabia. After the end of the season, Ivanov also left the club. CSKA finished in third place.
  In the summer of 1998, Dimitar Penev took the lead as head coach for the second time. CSKA reached the second round of the UEFA Cup and won the Bulgarian Cup, but disappointed in the domestic league, finishing in fifth place in 1999. That season, the young talents of Martin Petrov, Stilian Petrov, Dimitar Berbatov and Vladimir Manchev started to play a bigger role in the team. There were problems with player-indexing due to some unpaid obligations to Neftochimik. In the domestic championship, CSKA had only 16 players registered for the 1999–2000 season and some un-indexed players took part in official UEFA games. Consequently, at the shareholders meeting at the end of 1999, the club ownership was transferred to businessman Vasil Bozhkov.