September 23, 2022
More than 600,000 Iranians have bought stock in the nation’s two most prominent soccer clubs, as the government tries to divest itself of sports teams.
The Sports Ministry, which owns both teams, which were taken over from their private owners after the revolution, put up for sale about 10 percent of the stock in the Esteghlal and Persepolis clubs in March. They are both based in Tehran.
All the shares offered have now been bought, with 286,000 people spending an average of $42 each to buy Esteghlal stock and 320,000 people spending an average of $36 each to buy Persepolis shares.
The two teams were listed on the Iran Fara Bourse at the end of August and more shares will now be offered through the bourse, with the Sports Ministry hoping to sell off half of the ownership of each team by Now Ruz.
But the government will still own half the stock in each club and will still be able to control them.