Gov't to Sell 51% Stake in 2 Main Football Clubs

The High Board of Divestures has approved block sale of 51% controlling shares in Tehran's two main football clubs, Esteghlal and Persepolis. 
According to a press release from the Iran Privatization Organization, it can sell the shares either in one 51% blocks or three 17% blocks.
Base price of the 17% block is 5.03 trillion rial ($12.2 million) for Esteghlal and 5.16 trillion rials ($12.5m) for Persepolis. Esteghlal's 51% block will be offered at the base price of 21.37 trillion rials ($52.12m) and Persepolis 21.94 trillion rials ($51.9m). 
Buyers should pay 20% in cash and the rest in six annual installments after one year grace period. The IPO has invited potential buyers to start negotiations before the offer.