Career
He was spotted by Partizan coach Virgil Popescu who insisted in bringing him over. Apart from short spell abroad, Blagoje spent most of his time in Partizan and, as a player or coach, he was part of Partizan for almost half a century. Paunović played for ten seasons with FK Partizan, amassing nearly 300 official appearances with the Belgrade club
During the 70"s, he formed an efficient backline alongside Dragan Holcer and Miroslav Pavlović.
At 28, in 1975, Paunović joined Football Club Utrecht in the Netherlands. After two seasons abroad he returned home for a spell with OFK Kikinda, played briefly in the United States by representing the Oakland Stompers of the North American Soccer League and closed out his career also in his country"s capital, with lowly FK Sinđelić.
Whist in North America, he played under the name Paki Paunovich. In the 1994-1995 campaign Paunović, already a coach, was one of five managers in charge of Spain"s Civil Defense Logroñés, which ranked last in Louisiana Liga with an all-time low 13 points.
In 2009, after a long spell with Partizan"s youth teams, he signed with Serbian first division side FK Smederevo.