It has been reported that Saudi Arabia has expressed a strong interest in purchasing a substantial share in the Indian Premier League (IPL). Information was taken from intimate sources about the topic.
It has been reported that advisors to Crown Prince Mohammed bin Salman of Saudi Arabia have communicated with Indian government representatives on the IPL’s conversion into a holding company, which is estimated to be worth $30 billion. These reportedly took place back in September, when the Crown Prince was visiting India. There are rumors that the kingdom has offered to invest a staggering $5 billion, or over 41500 crores in Indian rupees, in the cricket league, with intentions to expand to other nations.
Since the IPL is a separate organisation from the BCCI, any interference from Saudi Crown will alter the nature of the competition. The Indian Premier competition (IPL) has become the world’s second most valuable sports competition since 2008. Whether the Indian government and BCCI comply with the Saudi request remains to be seen.
The Saudi royal family is already making inroads into the sports sector. They have already made multiple acquisitions of shares in football clubs in the English Premier League and other European leagues. Purchasing an IPL share will be their first exposure to cricket.
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