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Saudi Arabia seeks a stake in $30bn Indian cricket league

Chennai Super Kings player Ravindra Jadeja celebrates after winning the IPL 2023 at the Narendra Modi Stadium in Ahmedabad on May 30, 2023

Saudi Arabia has shown interest in buying a multi-billion-dollar stake in the Indian Premier League (IPL) following various investments in professional sports such as football and golf.

Advisors of Saudi Arabia’s Crown Prince Mohammed bin Salman spoke to Indian government officials on moving the IPL into a holding company worth $30 billion, Bloomberg reported.

The talks were held when the Crown Prince visited India in September for the G20 Summit.

The kingdom expects to invest $5 billion into the cricket league, followed by its expansion into other countries, the report said.

The IPL ecosystem value has risen to Rs925 billion ($11.12 billion) from Rs870 billion in 2023, up 6.32 percent, according to an earlier report by D&P India Advisory Services.

The Star Sports Network’s broadcast of IPL garnered a viewership of 505 million with a watch time of 427.1 billion minutes, said the Broadcast Audience Research Council India.