text: In the meantime, Valentin Mihov was appointed president of the Bulgarian Football Union and Petar Kalpakchiev was chosen as his replacement. However, Kalpakchiev wrangled with the club's administration over their decisions to replace several coaches, one of which was Gjoko Hadžievski, considered to be leading the club in the right direction, and eventually he was fired.
  The owner of the Multigroup conglomerate, Iliya Pavlov, took over as president, but ultimately his sponsorship proved insufficient to overcome the club's ineffective management. Five coaches were changed in just one season, with Tsvetan Yonchev being coach for just one day. In Europe, CSKA nevertheless defeated Juventus 3–2 in the first round of the 1994–95 UEFA Cup, but the result was annulled by UEFA because of the delayed player-indexing of forward Petar Mihtarski, and Juventus were awarded a 3–0 victory by default. In the second leg in Turin, CSKA succumbed to a 5–1 defeat.
  In the summer of 1995, CSKA made a strong selection and eventually the club included half of the youth national football team of Bulgaria. Plamen Markov was appointed head coach, but after a disappointing first half of the season, he was replaced by Georgi Vasilev, who had previously won three Bulgarian titles (one with Etar Veliko Tarnovo and two with Levski Sofia). Vasilev managed to win a double with CSKA for the 1996–97 season, entering the second qualifying round of the Champions League against Steaua București. After a dramatic 3–3 in Bucharest, CSKA fell 0–2 at home.