Saudi Arabia Plans to Invest in Indian Premier League Cricket

Saudi Arabia has expressed interest in purchasing a stake worth billions of dollars in the Indian Premier League (IPL) cricket, which is considered one of the most profitable sporting events in the world. This comes after a series of investments by the kingdom that have transformed professional sports, including football and golf. Bloomberg reported from informed sources that advisors to Saudi Crown Prince Mohammed bin Salman have engaged with Indian government officials regarding the transformation of the IPL into a holding company valued at around $30 billion, with Saudi Arabia subsequently buying a significant stake. The informed sources indicated that the discussions took place during the Crown Prince's visit to India last September. According to the proposed plans, Riyadh suggested investing up to $5 billion in the league and assisting in expanding its reach to other countries, similar to the Premier League or the UEFA Champions League.