New Delhi: Saudi Arabia continues to increase investment in professional sports including football and golf. Following its reception, Saudi Arabia’s attention has now turned to IPL, the most profitable series in cricket.
Based on that, advisers to Saudi Crown Prince Mohammed bin Salman are in talks with Indian government officials to convert the IPL into a holding company worth $30 billion. A plan for this was prepared when the Saudi prince came to India last September.
According to the negotiations conducted at that time, Saudi Arabia expressed interest to invest 5 billion dollars i.e. Rs. 41,500 crores in the IPL league just like the English Premier League or the European Champions League. It is said that this will help in expanding these competitions to other countries as well. The BCCI is also expected to invite the proposal next year as the Saudis are keen to apply the necessary pressure to implement the IPL investment deal.