Saudi Arabia is mulling an investment in the Indian Premier League (IPL), according to a report published by Bloomberg News.
The IPL is the world’s richest cricket league and represents a sporting crown jewel. Alongside investments in domestic and overseas football leagues as well as the LIV golf tournament and F1 it is a further sign of Saudi Arabia investing in sports to diversify the national economy.
According to the Bloomberg report, Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of Saudi Arabia has held meetings with Indian government officials about taking a $5bn stake in the IPL.
Saudi eyes stake in $30bn IPL
The move would value the IPL at more than $30bn and the Crown Prince held talks with officials while visiting India earlier this year, said the report citing unnamed sources familiar with the matter.
Despite being only 16-years-old the IPL is one of the most-watched leagues and valuable sporting brands in the world, regardless of the sport.
The league is managed by the Board of Control for Cricket in India and media rights are some of the most sought-after in the world. A current media broadcast deal sold for $6.2bn and will see IPL games shown until 2027.
A possible investment from Saudi Arabia could see the IPL expand to other countries as the global interest in T20 cricket increases.
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