The Indian Premier League is ranked among one of the biggest sporting franchise leagues across the globe as it has raked in big numbers in recent times. With its emergence, Saudi Arabia has expressed interest in buying a multibillion-dollar stake in the IPL, Bloomberg News reported on Friday, citing people familiar with the matter.
Saudi Arabian Crown Prince Mohammed bin Salman’s advisers have spoken to Indian government officials about moving the IPL into a holding company valued at as much as $30 billion, the report said.
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The talks were held when the crown prince visited India in September, the report said, adding that the kingdom proposed investing as much as $5 billion into the league and help lead an expansion into other countries.
The Indian Premier League started in 2008 and became an instant hit in the country. It didn’t take much time to become the biggest cricket franchise league tournament in the world. It has been attracting top players and coaches to India since its inaugural edition in 2008.
The league has always been a spectacle of cricket, business and entertainment. This year was no exception, as the league continued to captivate audiences, both on television and digital platforms, the report said.
Last season, the BCCI hit the jackpot with their digital and TV rights.
Viacom 18 bagged the digital rights while Disney grabbed the rights for legacy media of Indian Premier League as far as the next five years are concerned, sources have confirmed. While rights to Package A (Legacy Media Rights) were secured for a whopping Rs 23,575 crores, which is effectively Rs 57.5 crores per game, Package B (Digital rights) was sealed by Reliance Industries-owned Viacom 18 at a price tag of Rs 20,500 crores, which effectively means 50 crores per match. Thus cumulatively the BCCI is now richer by Rs 44,075 crores after selling the two packages.
Meanwhile, Saudi Arabia has invested heavily in sports in recent times primarily golf and football. They are pushing hard to grab the hosting rights of 2034 FIFA World Cup, which looks highly likely as several football stars Brazil’s Neymar, France’s Karim Benzema and Portuguese superstar Cristiano Ronaldo, have joined the Saudi Pro League in the last year.
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