Addresses for Saudi Arabia to pick a significant stake in IPL reportedly took place when Crown Prince Mohammed bin Salman visited India in September. Saudi Arabia is reportedly interested in buying a stake in the Indian Premier League.
Crown Prince Mohammed bin Salman’s counsels have reportedly bandied the possibility of moving IPL into a holding company, valued as important as$ 30 billion. If this passes through, Saudi Arabia could take a significant, multibillion- bone stake.
The report stated that the addresses were held when the Saudi Prince visited India in September. The area proposed investing as much as$ 5 billion and help lead an expansion into other countries, the report added.
People in the know told the news point that the Indian government and the Board of Control for Cricket in India( BCCI) are likely to take a call after coming time’s choices.
Saudi Arabia’s autonomous wealth fund could be the vehicle to eventually go ahead with the deal if the BCCI agrees to it. No final decision has yet been made and the parties refused a comment to the news point.
IPL formerly has a large bunch of guarantors, including Aramco and the Saudi tourism authority. IPL’s fashionability is apparent as stab last time pumped in$6.2 billion for the right to telecast the events, which comes to$15.1 million per match, which is further than the English Premier League and just behind US ’ National Football League.
Still, if any Saudi investment comes to IPL, the media rights agreements for the league would bear changes. Meanwhile, there have been attempts to replicate the IPL formula down from its homeground. A US arriviste, part- funded by Satya Nadella and Shantanu Narayen lately concluded its first season in July. There are analogous leagues in UAE and South Africa too.
