The elegant midfielder orchestrated Bulgaria's famous 1994 World Cup run with his exceptional vision and pinpoint passing. Career record: 92 caps and 16 goals for Bulgaria; club career at FC Etar 1924 Veliko Tarnovo, F.C. Etar, VfB Stuttgart.
| 1982–1990 | FC Etar 1924 Veliko Tarnovo |
| 1983–1990 | F.C. Etar |
| 1991–1995 | Sporting CP |
| 1995–2003 | VfB Stuttgart |
| 2005–2005 | VFC Plauen |
| Bulgaria | 92 caps, 16 goals |
Bulgaria legends whose careers overlapped Balakov's
One rank above: Hristo Bonev at #4.
One rank below: Emil Kostadinov at #6.
Bulgaria's editorial top five: Hristo Stoichkov · Dimitar Berbatov · Georgi Asparuhov · Hristo Bonev · Krasimir Balakov.