Saudi Arabia wants to invest in IPL 2024
Since the World Cup in Qatar, Saudi Arabia has been investing heavily in sports. The country has produced footballers like Cristiano Ronaldo, Neymar Jr, Karim Benzema in its domestic football league. This time, the Middle Eastern country is interested in investing in cricket as well. They want to invest huge amount in Indian Premier League (IPL). News from Bloomberg.
According to the report of Bloomberg, Saudi Arabia wants to invest five billion US dollars in the Indian franchise league, the figure is 55 thousand 342 crores in Bangladeshi taka. According to the plan, they want to spread the IPL in several countries in the style of European Champions League.
It is known that advisers of Saudi Prince Mohammed bin Salman have discussed with multiple owners of IPL. They proposed to turn IPL into a 30 billion USD holding company. There will be shares of Saudi Arabia worth five billion US dollars.
The Board of Cricket in India (BCCI) is yet to take any decision on the matter. The report said that it may be discussed after the Lok Sabha elections.
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Saudi Arabia has also invested in English Premier League football. They bought Newcastle United for 300 million euros, the ‘state investment fund’ owned by the Saudi royal family. The club is 80 percent owned by Saudi Arabia. 10 percent British businesswoman Amanda Staveley. And the remaining 10 percent belongs to the billionaire business group Ruben Brothers.
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