As a footballer, Chervenkov played as a defender for Tundzha Yambol (1980–1981), Armeets Sofia (1981–1984), CSKA Sofia (1984–1987), Lokomotiv Gorna Oryahovitsa (1987–1989), Etar Veliko Tarnovo (1989–1994) and Montana (1994–1996). In Bulgaria's top division, the A PFG, Chervenkov had 298 matches and 40 goals. He won the championship twice, in 1987 with CSKA and in 1991 with Etar, once finished second (with CSKA in 1985) and once third (with Etar in 1990). With CSKA, Chervenkov has two Bulgarian Cup trophies (1985 and 1987) and two Cup of the Soviet Army trophies (1985 and 1986). In the European tournaments, he has featured in 6 matches, scoring once (in one of his two matches for Etar, the rest being for CSKA). Internationally, Chervenkov has 5 caps for the Bulgaria national team. He participated in European Championship 1991/92.