Saudi Arabia looking to invest billions in Indian Premier League: Report

Saudi Arabia has reportedly expressed interest in pouring in billions of dollars into cricket’s T20 league in India.

The Indian Premier League (IPL) is the world’s richest cricket league.

According to a report by Bloomberg News, Saudi Arabia’s Crown Prince Mohammed bin Salman is willing to buy a multibillion-dollar stake in the IPL.

Mohammed bin Salman’s advisers have spoken to Indian government officials about moving the IPL into a holding company valued at as much as $30bn, a Reuters report said.

Saudi Arabia looks to expand into T20 cricket

The report cited multiple sources that said talks were held when the crown prince visited India in September for the G20 Summit.

The report said Saudi Arabia proposed investing as much as $5bn into the league and help lead an expansion into other countries.

The Board of Control for Cricket in India (BCCI), the controlling body of the IPL, did not immediately respond to Reuters’ request for a comment.

The IPL has since its inception become one of the richest sports leagues in the world. It attracts top players and coaches from across the cricketing world to India since its inaugural edition in 2008.

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