Report: Saudi Arabia expresses strong interest in acquiring massive IPL stake

According to sources, Saudi Arabia is reportedly highly interested in buying an extensive financial share in the Indian Premier League (IPL), which is the world’s largest and richest cricket league and has been held every year from March to June since 2008. However, it seems likely that the likely investment will fall in the range of billions of dollars. The main reason for this is definitely the huge and enormous popularity of the IPL all over the world.

Furthermore, the reports also claimed that advisors to Mohammed bin Salman, who is very well known as the Crown Prince of Saudi Arabia, have reportedly started talking to officials of the Indian government regarding the possibility of moving the Indian Premier League to a merged organization with an estimated worth of $30 billion. However, there are no official statements from the Indian Cricket Board or IPL authorities.

Meanwhile, if this agreement gets sorted out with the Indian Cricket Board, then Saudi Arabia’s powerful sovereign wealth fund, which has funded many of the country’s past sports investments, may ultimately be in charge of accomplishing it as well as helping Team India and the whole nation. However, no decisions have been made, and they will be finalized by the PM of the country as well as the Home Minister before any cricketing body.

The TATA IPL and the Saudi Arabia have engaged earlier this year as well

Notably, the well-renowed cricket league, the Indian Premier League, began back in 2008 and has since blossomed into a national treasure. The TATA Indian Premier League (IPL) and the Saudi Tourism Authority (STA) engaged earlier this year to use the growing popularity of cricket to strengthen connections between Saudi Arabia and India. In addition, the TATA IPL engaged with the WPL earlier this year.

The STA (Saudi Tourism Authority) embraced the huge international viewership of the Indian Premier League in order to reach out to this fan base and promote Saudi Arabia as a year-round travel destination. However, Saudi Arabia has already attracted an enormous number of Indian tourists.