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Saudi Arabia Swings For The Fences

Saudi Arabia Swings For The Fences

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  • Saudi Arabia has expressed interest in buying a multibillion-dollar stake in the Indian Premier League (IPL), the world's richest cricket league. Saudi Arabian Crown Prince Mohammed bin Salman's advisers have spoken to Indian government officials about moving the IPL into a holding company valued at as much as $30 billion. 
  • The talks were held when the crown prince visited India in September, and that the kingdom proposed investing as much as $5 billion into the league and help lead an expansion into other countries.

Why it matters

Saudi Arabia has been making a huge push into sports recently, with the PIF pumping money into everything from Formula 1 and WWE to European soccer, and from 2027 AFC Asian Cup to 2034 FIFA World Cup. IPL is one of the richest leagues in the world and has been attracting top players and coaches to India since its inaugural edition in 2008. If the deal works out, the investment will have magnifying implications for the sports world.
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