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In August 2019, he became the sports director of Lokomotiv Plovdiv.

On 21 June 2016, Ivanov returned as manager of Cherno More, replacing Nikola Spasov. On 21 September 2017, he resigned following a streak of poor results.

He also became caretaker manager of Levski following the resignation of Nikolay Kostov on 26 March 2012.

On 10 October 2012, Ivanov was announced as the new manager of Lokomotiv Plovdiv, replacing Emil Velev. However, he left the team after just one day in charge of the training process. Between December 2012 and the summer of 2014, Ivanov served as manager of Cherno More Varna. After that he returned to Levski Sofia, where he alternated between the positions of head coach and director of football (on occasions also holding them at the same time).

He took Levski in the 10th round, collected only 9 points. After the end of the season, Ivanov took the team to the third place and achieved qualifying for UEFA Europa League.

On 20 May 2010, Ivanov hired Yasen Petrov for Levski's head coach, ending his coaching career.

Because of injuries, Ivanov did not start the 09/10 season. On 23 July 2009, Ivanov became a manager and head of the sport technical issues in PFC Levski Sofia, but he said that when he is ready he could play again.

On 22 June 2008, he signed a contract with PFC Levski Sofia for the fourth time. Towards the end of the first half of the season he scored 6 goals in 4 matches, including his record 15th against Sofia rivals CSKA. During that season, Gonzo showed once again his strong leadership, playing even with an injury and protectors on his face because of a broken cheek-bone. He became a Champion of Bulgaria in 2009.

In January 2007, Georgi Ivanov was transferred to Croatian club NK Rijeka. In Croatia, Gonzo was used as a striker and as a defensive midfielder.

Ivanov once again rejoined Levski Sofia on a free transfer from Gaziantepspor in 2006 and won the Bulgarian title for the fourth time in his career.

Between 2004 and 2006, Georgi Ivanov played in Turkey for Samsunspor and Gaziantepspor.

During 2003–04 season, Gonzo played for Levski Sofia again out on loan. He made 21 league appearances and scored nine goals.

Ivanov joined French Ligue 1 side Stade Rennais FC for a club record transfer fee of €4,100,000 in 2002. After only a year abroad he rejoined Levski.

"Gonzo" as he was known among the fans signed for Levski Sofia in 1997. He had previously been on the radar of archrival CSKA Sofia. On 24 October 1997, Gonzo played in his first Eternal Derby and scored the winning goal in the 84th minute after a Vladimir Ivanov assist to help the "blues" to a 1:0 victory. In total, Georgi Ivanov has participated in 22 editions of the rivalry, scoring a record-breaking 15 goals (the last time he found the net against the "redmen" was in an A PFG match held in November 2008 that finished 1:1). Levski Sofia have only lost two derby matches against the "reds" with Gonzo on the pitch.

Georgi Ivanov was a part of Bulgaria national football team between 1996 and 2005. He earned his first cap with Bulgaria as a 20-year-old, in a 1–0 victory over Luxembourg on 8 October 1996. For Bulgaria, Gonzo was capped 34 times, scoring 4 goals. He was part of Bulgaria's roster for the 1998 FIFA World Cup in France.

Georgi Alexandrov Ivanov, nicknamed Gonzo (Bulgarian: Георги Александров Иванов – Гонзо ), born 2 July 1976 in Plovdiv), is a former Bulgarian football striker and currently manager. Ivanov is a former Bulgarian international and is perhaps best known for his goal-scoring prowess in The Eternal Derby of Bulgaria, netting 15 goals, having bettered Nasko Sirakov's record in 2008. He is presently a sports director at Lokomotiv Plovdiv.