Esteghlal football club is heavily financially dependent on Persian Gulf Holding.
An analysis of Esteghlal Club’s financial data reveals that a significant portion of its operating revenue is tied to its owner.
According to the specialized sports economics website, citing Fars news agency, Esteghlal football club has received a warning from the Tehran Stock Exchange about delays in publishing its financial statements. An analysis of the club's financial data reveals a significant reliance on its owner for operating income.
The Tehran Stock Exchange recently reminded Esteghlal that it had failed to publish several of its financial statements on the Kodal platform and called for the club's financial information to be finalized.
The data shows that Esteghlal received approximately 2,832 billion tomans from the Khalij Fars Holding group over a six-month period to cover football-related expenses.
Furthermore, an analysis of Esteghlal's operating income indicates a high level of dependence on its main shareholder. During this period, around 96.7% of the club's operating income was tied to its owner, with a significant portion of its registered revenue coming from financial ties with the Khalij Fars Petrochemical Industries group.
This situation comes at a time when the Tehran Stock Exchange has warned Esteghlal about delays in publishing its financial information.
In a letter, the Tehran Stock Exchange stated that financial statements and information for various periods, including quarterly, semi-annual, nine-month, and annual reports, had not been published on time.
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