After retiring from active sports he started a career in football administration. He was vice-president of the
Bulgarian Football Union from 2001 until 2005, when he replaced
Ivan Slavkov as president of the Bulgarian Football Union. On 22 March 2011, he was elected to the executive committee of
UEFA. On 15 October 2019, Mihaylov resigned as President of BFU after being asked to step down for ignoring racist behaviour during games. On 28 April 2021, after a meeting with BFU, Mihaylov became the president again. On 27 November 2023, he resigned again as President of BFU after a lot of pressure from football fans and being asked by a lot of famous people and politicians from
Bulgaria, to step down from the position. ==Personal life and death==