Saudi Arabia has expressed interest in acquiring a substantial stake in theIndian Premier League (IPL), which is considered the world’s wealthiestcricket league. This development, reported by Bloomberg News on Friday, isbased on information from individuals with knowledge of the situation.
Advisers of Saudi Arabian Crown Prince Mohammed bin Salman engaged indiscussions with Indian government officials during the crown prince’svisit to India in September. The primary focus of these discussions was toexplore the possibility of transferring the IPL into a holding company withan estimated value of up to $30 billion.
As part of these talks, Saudi Arabia proposed a significant investment ofup to $5 billion in the IPL. Additionally, they expressed interest intaking a leading role in expanding the league’s presence into othercountries.
The Board of Control for Cricket in India (BCCI), which oversees the IPL,has not provided an immediate response to Reuters’ request for comments onthis matter.
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It is worth noting that the IPL, which has been in operation since itsinaugural edition in 2008, is renowned as one of the most financiallylucrative cricket leagues globally. Over the years, it has attractedtop-tier players and coaches to India.