Saudi Arabia has expressed interest in buying a multibillion-dollar stake in the Indian Premier League (IPL), the world's richest cricket league, Bloomberg News reported on Friday, citing people familiar with the matter. 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 report said. The talks were held when the crown prince visited India in September, the report said, adding that the kingdom proposed investing as much as $5 billion into the league and help lead an expansion into other countries.

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. Having made significant and controversial investments in football – including the purchase of Newcastle United – and golf, with the launch of the LIV Golf tour, Saudi Arabia has also started to build commercial relationships in cricket over recent years. Last October, the International Cricket Council agreed a global partnership with Saudi Aramco, the national petrol company, which includes involvement in the World Test Championship final between India and Australia at the Oval in June, and at the ODI World Cup in the autumn. In February, Saudi tourism authority joined Aramco among the IPL’s key sponsors. The IPL has seen a compounded annual growth rate (CAGR) of 18% in its media rights from 2008 to 2023. The growth in absolute terms between the 2017 and 2023 cycles surged by a whopping 196%.The league’s broadcasting fee, compared with other professional leagues in the world on a per-match basis, is above the National Basketball Association (NBA), the English Premier League (EPL) and the Bundesliga and is second only to the National Football League (NFL).