Litex () is a Bulgarian professional association football club based in Lovech, which currently competes in the Second League. The club was founded in 1921 as Hisarya Sports Club. The club's home ground is the Gradski Stadion, which has a capacity of 8,100 seats, electric floodlights and permission to stage European matches. As one of the successful Bulgarian clubs outside the capital Sofia, Litex have won the domestic championship four times and the Bulgarian Cup on four occasions. Together with CSKA Sofia and Levski Sofia, Litex was also the third football club to represent the country regularly in the European Club Association. History 1921–1996 The club was founded in 1921 as Hisarya and began playing league football two years later, in 1923. Over the years, the club has changed its name several times. From 1957 it was named Karpachev, before becoming Osam in 1979. Under that name the club played constantly in the B Group, the second division of Bulgarian football and was near to promotion several times. A notable player during this period was Plamen Linkov, who broke the club's appearance record, playing 575 matches and scoring 167 goals respectively. In 1990, after Bulgaria's transition to market economy, privately owned company LEX became the main sponsor of the club. During the same year, the new owners changed the name of the football club to LEX. The 1993–94 B Group proved to be impressive for the club, as the team finished first in the second division and qualified for the A Group, a notable milestone never done before in the club's history. LEX's debut season in the A Group was also noteworthy, as the team ranked 11th at the end of the season. The next season however proved to be unsuccessful and the club, renamed Lovech, was relegated to the B Group. Grisha Ganchev ownership (1996–2016) In June 1996, the club was purchased by Grisha Ganchev, petrol businessman and a citizen of Lovech, and it was renamed to Litex. The takeover was immediately followed by a flurry of bids for high-profile players. Ferario Spasov was named as the new Litex coach. He led the club back to the A Group at their first attempt. During the 1996–97 season Litex also reached the quarter-finals of the Bulgarian Cup and the final of the Bulgarian League Cup, which was lost after a penalty shoot-out. In 1997, Litex was promoted for the second