Saudi Arabian Crown Prince, MBS, has expressed a keen interest in buying, a multibillion-dollar stake in the Indian Premier League (IPL), one of international cricket’s most lucrative events. This move follows a series of investments that have significantly impacted various professional sports, including football and golf, as reported by a media outlet on a recent Friday.
Advisers to Saudi Arabian Crown Prince Mohammed Bin Salman have engaged in discussions with Indian government officials regarding the potential creation of a holding company for the IPL, which could be valued at up to $30 billion, according to a Bloomberg report.
These discussions took place during the Saudi Crown Prince‘s visit to India in September, coinciding with the G20 Summit held under India’s Presidency.
READ MORE: Pakistan ends its losing streak at Eden Gardens, Kolkata, beats Bangladesh
Saudi Arabia has put forth a proposal to invest as much as $5 billion into the IPL and play a pivotal role in expanding the league’s presence into other countries, as per the same report.
Previous reports indicate that the IPL’s ecosystem value has seen a rise from Rs 87,000 crore to Rs 92,500 crore, marking an approximate increase of 6.3%, as reported by D&P India Advisory Services.
In USD terms, this translates to growth from $10.9 billion to $11.2 billion, representing an increase of around 3.3%.
The IPL has consistently been a captivating fusion of cricket, business, and entertainment. This year was no exception, as the league continued to enthrall audiences, both on television and digital platforms.
According to the Broadcast Audience Research Council (BARC) India, IPL telecasts on the Star Sports Network garnered a remarkable viewership of 505 million, with an impressive total watch time of 427.1 billion minutes.
On the digital front, JioCinema reported that 449 million viewers tuned into its platform, with over 126 million viewers opting for connected TV options to enjoy IPL action.
