Saudi Arabia eyes stake in $30 billion IPL: Report
Saudi Arabian Crown Prince Mohammed bin Salman's advisors have spoken to Indian government officials about moving the IPL into a holding company valued at as much as $30 billion, Bloomberg reported.
Saudi Arabia has expressed interest in buying a multibillion-dollar stake in the Indian Premier League (IPL), international cricket's most lucrative event, following a string of investments that have upended professional sports, including football and golf, a media report said.
Saudi Arabian Crown Prince Mohammed bin Salman's advisors have spoken to Indian government officials about moving the IPL into a holding company valued at as much as $30 billion, Bloomberg reported.
The talks were held when the Saudi Crown Prince visited India in September for the G20 Summit held under India's Presidency, the report said.
Saudi Arabia proposed investing as much as $5 billion into the league and help lead an expansion into other countries, the report said.
As per earlier reports, theIPLecosystemvaluehas risen from Rs 87,000 crore to Rs 92,500 crore, marking an increase of around 6.3 per cent, as per a report by D&P India Advisory Services.
In USD terms, this translates to a growth from $10.9 billion to $11.2 billion, representing an increase of approximately 3.3 per cent.
The league has always been a spectacle of cricket, business and entertainment.
This year was no exception, as the league continued to captivate audiences, both on television and digital platforms, the report said.
According to the Broadcast Audience Research Council (BARC) India, theIPLtelecast on the Star Sports Network attracted a staggering 505 million viewers with an impressive 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 choosing connected TV options to savour theIPLaction
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
SBI 5-Year FD vs MIS: Which can offer higher returns on a Rs 2,00,000 investment over 5 years? See calculations
06:44 PM IST