Bulgarian giants Levski Sofia are breathing a sigh of relief after reportedly securing a new sponsorship deal that will help them settle outstanding debts owed players.

The club that has been hit with financial difficulties failed to pay salaries of players and staff since the beginning of the year, forcing the departure of some players including Ghanaian winger Mohammed Nasiru.

To avoid FIFA sanctions, the Bulgarian giants will use monies from the sponsorship to settle the former BK Hacken attacker and three other players who left the club this week.

Mohammed Nasiru decided to terminate his contract on Tuesday following the team's failure to settle his outstanding signing-on fees and salaries for the last four months.

The former Ghana U-17 joined the Bulgarian outfit from the Swedish side BK Hacken for around 200,000 euros and was on a monthly salary of 22,000 euros.

The 26-year-old, now a free agent, played 28 times and scored twice for Levski Sofia in the Bulgarian topflight league.