Saudi Arabia expresses interest in acquiring multi-billion dollar stake in Indian Premier League: Reports

After creating a buzz with their multi-million dollar football league and being on the verge of hosting the 2034 FIFA World Cup, Saudi Arabia has now turned its attention to cricket, particularly the Indian Premier League (IPL), one of the wealthiest leagues in the sport.

As reported by Bloomberg News, Saudi Arabia has shown interest in acquiring a multi-billion dollar stake in the IPL. The Crown Prince of Saudi Arabia, Mohammad Bin Salman, along with his advisors, has engaged in discussions with Indian government officials regarding the potential transfer of the IPL to a holding company with a valuation exceeding $30 billion.

The discussions mentioned in the report took place when the Crown Prince visited India in September of this year. It's been reported that Saudi Arabia intends to inject $5 billion into the league, with the aim of supporting its expansion into other international markets. Although the news outlet contacted the Indian Cricket Board (ICB) for a response, the governing body of Indian cricket has not provided a statement on the matter.

Saudi Arabia's potential stake in the IPL would inject a significant amount of money

The IPL has already established sponsorships with Saudi Arabia, including Aramco and the Saudi Arabia Tourism Department. However, Saudi Arabia's potential stake in the IPL would inject a significant amount of capital into an already financially robust league. Sponsors have contributed a staggering $6.2 billion to IPL 2023 broadcasts, equating to $15.1 million per match. This makes it the second-highest figure worldwide, trailing only the American National Football League (NFL) and surpassing the immensely popular English Premier League.

 Saudi Arabia's investments in sports, particularly football, have been substantial. The Saudi Pro League now boasts some of the sport's biggest superstars, such as Cristiano Ronaldo at Al Nassr and Neymar Jr at Al-Hilal. Both are currently the world's two highest-paid footballers. Their financial power has also lured several star players in their prime, including Ruben Neves, Sergej Milinkovic Savic, and Sadio Mane, away from European football. Moreover, Saudi Arabia is a top contender to host the 2034 FIFA World Cup.