Saudi Arabia has shown interest in acquiring a multi-billion-dollar stake in the Indian Premier League (IPL), the world's wealthiest cricket league, according to Bloomberg.
Citing sources with knowledge of the matter, the report states that advisers to Saudi Arabian Crown Prince Mohammed bin Salman have engaged with Indian government officials to explore the possibility of transferring the IPL to a holding company with an estimated value of up to $30 billion.
These discussions took place during the crown prince's visit to India in September, with the kingdom proposing an investment of as much as $5 billion into the league and playing a leading role in its expansion into other countries.
The Board of Control for Cricket in India (BCCI), which oversees the IPL, has not commented on the matter yet.
The IPL stands as one of the world's wealthiest leagues and has consistently attracted top players and coaches to India since its inaugural edition in 2008.
Nishtha Anushree is Senior Sub-editor at Swarajya. She tweets at @nishthaanushree.
An appeal from Swarajya
At Swarajya, we rely on our readers' support through subscriptions to sustain our media platform. Unlike larger conglomerates, we are unable to relentlessly chase advertising money — our model is largely built on your patronage.
Your support has never been more crucial. We work tirelessly to deliver 10-15 high-quality articles daily, ensuring you receive insightful content from 7 AM to 10 PM.
If you believe India's story has to be articulated in a way it has never been done before without shrugging it off, become a patron (or) subscribe now for ₹̶2̶4̶0̶0̶ ₹1999 and get 12 print issues, unlimited digital access for 1 year, a special India that is Bharat T-shirt (Offer ends soon).
We are counting on you!