He is currently one of the major shareholders of Bulgarian football club CSKA Sofia.

Ganchev attended sports high school "Asen Draganov" in Lovech, specializing in wrestling.

Ganchev also completed management studies in St. Louis in 1990, making use of the distance learning option.

He is the founder of the Litex Commerce AD company that specializes in various petrol products.

[3] A former Litex Lovech owner since 1996, which he established as a major force in Bulgarian football, with the club winning four league titles, four Bulgarian Cups as well as a number of other honors,[4][5] on June 24, 2015, after the Bulgarian club CSKA Sofia faced financial issues, the entrepreneur bought the Sofia team, and in 2016 after a complicated procedure involving the renaming of PFC Litex-Lovech to CSKA-Sofia EAD formed a new company representing CSKA Sofia, which later was recognized by UEFA as the successor of the previous Sofia-based club.