released from PFC Chernomorets Burgas after mutual consent, following a change in the long-term vision for the club by the owner Mitko Sabev. On 27 May 2011, it was announced that Balakov would take over the helm of Croatian club Hajduk Split. On 22 March 2012, Balakov was appointed the manager of 1. FC Kaiserslautern. He was sacked on 17 May 2012, after being unable to prevent Kaiserslautern's relegation to the 2. Bundesliga. He subsequently continued his career as manager in his country. On 4 January 2018, he was announced as the new manager of Etar Veliko Tarnovo with Stanislav Genchev, Iliyan Kiryakov and Kaloyan Chakarov as first team coaches. On 14 May 2019, he was named as the new manager of the Bulgaria national team. In October 2019, Balakov was replaced as manager of the national team by Georgi Dermendzhiev after resigning from his role following the backlash over his denial of alleged fan racism aimed at members of the England team in a Euro 2020 qualifying match as well as a continued string of unsatisfactory results. He took over as manager of CSKA 1948 in June 2020. In late August 2020, Balakov's duties were extended to cover the organizational management as well, with assistant Yordan Yurukov becoming more actively involved in the training process. However, the latter resigned on 22 September, leaving Balakov to be the sole one in charge of the team. In June 2021, Balakov parted ways with CSKA 1948, with the club's management thanking him for establishing the team among the stronger sides in the top division of Bulgarian football. International career Balakov made 92 appearances for Bulgaria, between 1988 and 2003 (one of the best totals in national history) and scored 16 goals. He made his debut on 2 November 1988, in the 1–1 draw with Denmark in a qualifying match for the 1990 FIFA World Cup, coming on as a late second half substitute for Hristo Stoichkov. Other than the 1994 FIFA World Cup, he also played for his country at Euro 1996 and the 1998 FIFA World Cup. At age 37 he played in the qualifications for Euro 2004 to help his teammates qualify but retired from football before the final stage in Portugal. International goals Scores and results list Bulgaria's goal tally first, score column indicates score after each Balakov goal. Managerial statistics Honours Etar Veliko Tarnovo A Group: 1990–91 Sporting