Economy, Business And Markets

Esteqlal, Persepolis Auction Called Off

Esteqlal, Persepolis Auction Called OffEsteqlal, Persepolis Auction Called Off

The Ministry of Economic Affairs and Finance has backed off from its decision to sell the two major state-owned football clubs, Persepolis and Esteqlal, through auction. Minister of Economic Affairs and Finance Ali Tayyebnia says the decision to cancel the privatization process was made after the four auctions held by the ministry over the past few years failed to achievethe desired results, IRNA reported. He said none of the bidders was found qualified to own and run the clubs that have millions of fans each inside and outside the country. For decades, the government has been running the two football clubs through the former Physical Education Organization and later the Ministry of Sports and Youth Affairs. Different administrations have been blamed for their direct interference with the management of the clubs, as dozens of different managers have been appointed for the two clubs in the past few years.