Hristo Stoichkov
Penev's first professional team was CSKA Sofia of the Bulgarian capital. He made his first team debut in 1984, when he was only 18 years old. CSKA of the late 1980s was the football "alma mater" to several Bulgarian players like Hristo Stoichkov who made it to the international team in the 1990s. During those days Lubo's teammates included defender Trifon Ivanov, winger Emil Kostadinov, and striker Hristo Stoichkov. With CSKA, Penev won the Bulgarian A Football Group twice (in 1987 and 1989) and the Bulgarian Cup three times (in 1987, 1988 and 1989). He was also voted Bulgarian Footballer of the Year in 1988.