The most valuable cricket league in the world, the Indian Premier League (IPL), is attracting significant investment interest from Saudi Arabia. According to people familiar with the situation, Saudi Arabia’s Crown Prince, Mohammed bin Salman, and his advisors have discussed the possibility of turning the Indian Premier League into a $30 billion holding company with Indian government officials.
The possible purchase gained credence since these discussions took place in September during Crown Prince Mohammed bin Salman’s visit to India. The Saudi government has indicated that it is prepared to contribute up to $5 billion to the Indian Premier League and work with the league to broaden its worldwide appeal.
The IPL’s governing body, the Board of Control for Cricket in India (BCCI), has not yet released a formal statement on this development. After the elections in the next year, a decision is anticipated.
Saudi Arabia sovereign wealth fund is expected to be heavily involved in the deal’s implementation if it moves forward. It is important to note that no final decision has been made and that both sides have chosen to keep quiet for the time being.
Since its founding in 2008, the Indian Premier League (IPL) has gained widespread recognition as one of the richest sports leagues in the world, drawing elite players and coaches time and time again. The Saudi Tourism Authority and Aramco are only two of the league’s many prestigious sponsors.
The IPL’s broadcasting rights were sold for an incredible $6.2 billion last year, which is $15.1 million per match. Only the US National Football League exceeded this sum, which was higher than the English Premier League.
It is anticipated that the media rights deals for the league will change significantly if Saudi Arabia decides to pursue an IPL franchise.
Moreover, attempts have been made to duplicate the IPL model in other nations. These include leagues in the United States, supported by well-known people like Shantanu Narayen and Satya Nadella, as well as leagues in South Africa and the United Arab Emirates. The IPL may write a new chapter thanks to Saudi Arabia’s possible engagement, strengthening its position as a prominent participant in international sports.
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