Reports: Saudi Arabia expresses interest to buy significant stake in IPL

Saudi Arabia is considering a major investment in the Indian Premier League (IPL), the world's most lucrative cricket league. Sources familiar with the matter have revealed that Saudi Arabia's Crown Prince, Mohammed bin Salman, and his advisors have engaged in discussions with Indian government officials about the possibility of bringing the IPL into a holding company valued at up to $30 billion.

These talks took place during Crown Prince Mohammed bin Salman's visit to India in September, adding credibility to the potential deal. The Saudi government has expressed a willingness to invest up to $5 billion into the IPL and collaborate on expanding the league's global reach.

As of now, the Board of Control for Cricket in India (BCCI), which oversees the IPL, has not made an official statement regarding this development. It is expected that a decision will be made following next year's elections. 

If the deal goes ahead, Saudi Arabia's big wealth fund is likely to play a significant role in its implementation. However, it is worth noting that no final decision has been reached, and as of now, both parties have decided to remain silent about the matter.

The IPL is widely recognized as one of the wealthiest sporting leagues worldwide, consistently attracting top players and coaches since its establishment in 2008. The league has a strong roster of sponsors, including names like Aramco and the Saudi Tourism Authority.

Last year, broadcasting rights for the IPL were sold for an astonishing $6.2 billion, equivalent to $15.1 million per match, surpassing the English Premier League and trailing only the US National Football League.

If Saudi Arabia's interest in the IPL occurs, it is expected that media rights agreements for the league will undergo significant changes. Furthermore, there have been attempts to replicate the IPL model in various countries, such as a US-based league supported by prominent figures like Satya Nadella and Shantanu Narayen, as well as similar leagues in the UAE and South Africa. Saudi Arabia's potential involvement could add a new chapter for the IPL, elevating its status as a major player on the global sports stage.