In an interview with Sky Sports News after the game, Balakov said he did not hear monkey chants, and would only apologise to England's players if UEFA later proved that there had been discriminatory abuse.
Borislav Mihaylov has also confirmed he is resigning from his role as president of the Bulgarian Football Union, while in another development, Sky Sports News understands the entire BFU Executive Committee has stepped down.
Bulgaria's Prime Minister Boyko Borissov asked Mihaylov to step down on Tuesday in the aftermath of the racist abuse suffered by England players.
Mihaylov resigned later on Tuesday, but the BFU's first vice-president Yordan Letchkov would not accept Mihaylov's initial resignation over fears of political interference.
However, speaking on Friday, Mihaylov said: "My decision to step down has nothing to do with prime-minister Borissov asking for my resignation the day after the game vs England. My patience is over.
"We did what we had to do regarding the security during the game v England. Bulgaria is not a racist country."
There is now a huge void in the governance of Bulgarian football - with no national manager, no president of the football association, and no executive committee in position to run the domestic or international game.
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