In a notable development, Saudi Arabia has articulated its eagerness to acquire a substantial stake in the Indian Premier League (IPL), the world’s most opulent cricket league, as reported by Bloomberg News, citing sources well-versed in the matter.
During the visit of Saudi Arabian Crown Prince Mohammed bin Salman to India in September, his advisors initiated discussions with Indian government officials regarding the prospect of relocating the IPL under the umbrella of a holding company, an entity that could be valued at a staggering $30 billion. The Kingdom has reportedly proposed an investment of up to $5 billion into the league, signaling a potential strategic collaboration aimed at facilitating the league’s expansion into uncharted territories.
At this juncture, the Board of Control for Cricket in India (BCCI), the guardian of the IPL, has not issued an immediate response to the request for comment from Reuters.
It is worth underscoring that the IPL has consistently stood as one of the most affluent sporting leagues globally, consistently drawing top-tier players and coaching talent to its shores since its inaugural edition in 2008. This prospective move involving a massive financial infusion from Saudi Arabia could very well reshape the landscape of the cricketing world.
By Reuters
