Saudi Arabia plans to invest $5 billion in Indian Cricket League

Saudi Arabia has shown interest in buying a multibillion-dollar stake in the Indian Premier League of Cricket, the world’s most profitable sporting event, after a series of investments by Saudi Arabia overturned professional sports such as football and golf, according to “Bloomberg.”

Saudi Crown Prince Mohammed bin Salman’s advisers have reached out to Indian government officials about converting the Indian Premier League of Cricket into a holding company worth up to $30 billion, where Saudi Arabia will then purchase an important stake, according to insiders.

These talks took place during the Saudi Crown Prince’s visit to India in September, according to people who asked not to disclose their identities as this information is not public.

“Saudi Arabia proposed investing up to $5 billion in the league and helping to extend it to other countries, similar to the Champions League,” people familiar with the matter told “Bloomberg.”

“While the Saudi government is eager to move forward with a deal, the Indian government and the country’s cricket regulator (BCCI) are likely to receive an invitation on the proposal after next year’s federal elections,” people familiar with the matter told “Bloomberg.”

The Kingdom’s sovereign fund, which has boosted many of Saudi Arabia’s previous sports investments, could ultimately be the tool used to conclude a deal with the authority if an agreement is reached. But no final decisions have been made yet.