According to reports, Saudi Arabia is looking into the prospect of investing in the Indian Premier League (IPL). Advisors to Crown Prince Mohammed bin Salman are rumoured to have discussed this interest, which may entail moving the Indian Premier League into a holding company with a $30 billion valuation.
Saudi Arabia has proposed a huge investment of up to $5 billion, suggesting that it might become a key player in the Indian Premier League. They also want to be in the forefront of the league’s international expansion. These conversations happened in September when the Saudi Prince was visited India.
Timing and Decision-Making
Following the next year’s elections, the Indian government and the Board of Control for Cricket in India (BCCI) are expected to make a judgement on this issue. If the BCCI approves the plan, the investment may be made possible by Saudi Arabia’s sovereign wealth fund. Neither party has made an official statement as of yet, and no decision has been made in its entirety.
Impact on IPL’s Existing Sponsorships
The Saudi tourism administration and Aramco are only two of the many sponsors that the Indian Premier League now has. The league is clearly very popular; last year, it outbid the English Premier League by $6.2 billion for the television rights, which works out to an incredible $15.1 million each game. The US National Football League is the league’s closest competitor. If the Saudi investment comes through, the media rights deals for the league might need to be adjusted.
Global Expansion and Competition
Even though India is still the home of the Indian Premier League, attempts have been made to duplicate its profitable model elsewhere in the world of cricket. July saw the end of the first season of a US-based league that Shantanu Narayen and Satya Nadella partially supported. South Africa and the United Arab Emirates (UAE) have also seen the emergence of comparable cricket leagues, demonstrating the sport’s widespread appeal and room for expansion.