Indian Premier League: Which organizes the most exciting and attractive cricket tournament
According to Bloomberg report, when Mohammed bin Salman came to India in September to attend the meeting of G-20 countries, there was a discussion about this with the government at that time. The Crown Prince has proposed an investment of up to 5 billion dollars. He has also proposed to expand IPL across the world on the lines of English Premier League and European Champions League. According to the report, Indian Government and BCCI are considering this proposal of Saudi Arabia to be held in 2024 The decision will be taken after the Lok Sabha elections. The command of BCCI is currently held by Jai Shah, who is the son of Home Minister Amit Shah. If this deal goes through, the investment will be made through Saudi Arabia’s Sovereign Wealth Fund. Sovereign Wealth Fund has made many sports related investments in the past. IPL was started in the country in 2008, which has a touch of glamor along with the thrill of cricket. From Bollywood stars to leading industrialists of the country, different IPL teams were bought through bidding. Mumbai Indians team belongs to Reliance Industries whose chairman is the country’s richest industrialist Mukesh Ambani. Kolkata Knight Riders is owned by the Badshah of Bollywood Shahrukh Khan and Juhi Chawla have it. Kings XI Punjab is owned by Bollywood actress Preity Zinta. There has been a strong increase in the valuation of these IPL teams in the last 15 years. Sponsors of IPL include Aramco to Saudi Tourism Authority. $6.2 billion has been paid for the broadcast of IPL matches till 2027. Which works out to 15.1 million dollars i.e. around Rs 100 crore for each match. Which is more than the English Premier League and very close to America’s National Football League. Get more latest business news updates
Indian Premier League: Saudi Arabia can invest in IPL with a valuation of $30 billion, proposed an investment of $5 billion.
