Saudi Arabia expresses interest to buy significant stake in IPL. Said to be prepare to contribute up to $5 billion in the IPL and work with the league to increase its worldwide reach.
Saudi Arabia is thinking about investing heavily in the Indian Premier competition. The world’s most profitable cricket competition. According to sources acquainted with the situation, Saudi Arabia’s Crown Prince, Mohammed bin Salman. His advisors have been in talks with Indian government officials about incorporating the IPL into a holding company worth up to $30 billion.
These discussions took occurred during Crown Prince Mohammed bin Salman’s September visit to India, lending credence to the possible agreement. The Saudi government has shown a willingness to spend up to $5 billion in the IPL and work with the league to increase its worldwide reach.
The Board of Control for Cricket in India (BCCI), which administers the IPL. But yet to issue an official statement on the matter. It is believed that a decision would be made following the elections next year.
If the agreement is approve, Saudi Arabia’s sovereign wealth fund will almost certainly play a key role in its execution. However, no final decision taken, and both sides have agree to keep silent on the topic for the time being.
Since its inception in 2008, the IPL has been largely regard as one of the richest sporting competitions in the world, continuously drawing elite players and coaches.
Also Visit: Bumrah, Siraj, and Shami run riot on Sri Lanka, leaving them at 14/6.
The IPL league has a slew of sponsors, including Aramco and the Saudi Tourism Authority.
The IPL’s television rights were sold for an astounding $6.2 billion last year. Equivalent to $15.1 million per match, surpassing the English Premier League. Following only the National Football League in the United States.
If Saudi Arabia’s interest in the IPL occurs, it is expect that media rights agreements for the league will undergo significant changes. Furthermore, there have been attempts to replicate the IPL model in various countries. Such as a US-based league supported by prominent figures like Satya Nadella and Shantanu Narayen. As well as similar leagues in the UAE and South Africa. Saudi Arabia’s potential involvement could add a new chapter for the IPL, elevating its status as a major player on the global sports stage.
Also Read: Iftikhar Ahmed comments on Pakistan’s continuous food criticism
