Iran Changes the Name of "Esteghlal Tehran" Club to "Persian Gulf Club"

In a politically significant move, the CEO of the Persian Gulf Petrochemical Industries Company in Iran, Ali Asghari, announced that the name of "Esteghlal Tehran" club will be changed to "Persian Gulf Esteghlal," following the transfer of the majority of the club's shares to this company. Asghari stated in a remark to Iranian official media: "Based on the decision of the new owner of the Esteghlal team, its name will be changed to Persian Gulf Esteghlal," considering this measure as "an important step to reform economic structures and make the club profitable." "Esteghlal Tehran" is one of the most important clubs in the Iranian Premier League, alongside its rival Persepolis, and both clubs have faced significant financial crises in recent days, with the Ministry of Youth and Sports offering both clubs for sale. The Persian Gulf Petrochemical Industries Company purchased 85% of the shares of Esteghlal Tehran last week.