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