TEHRAN - Iranian Minister of Youth Affairs and Sports Masoud Soltanifar has confirmed that the country’s most popular football teams Esteghlal and Persepolis will be ceded to the private sector by auction.

The government cabinet has agreed abandoning the two big cultural-sport companies to the private sector, Soltanifar said.

The long awaited privatization of the clubs will be done before the next Iranian calendar year.

Soltanifar said the enactment of the order has been confirmed by the government cabinet.

Pricing procedure of the two clubs should be conducted within the next two months, Soltanifar said.

Iran President Hassan Rouhani had already said that the government cannot get involved in business and manufacturing sector so that they back economic privatization.