Try GOLD - Free
Saudi sets sights on $5 billion IPL stake
Mint Mumbai
|November 04, 2023
Talks were held on making the IPL a $30 bn holding company
-
Saudi Arabia has expressed interest in buying a multibillion-dollar stake in the Indian Premier League, international cricket’s most lucrative event, following a string of investments that have upended professional sports including football and golf.
Crown Prince Mohammed bin Salman’s advisers have sounded out Indian government officials about moving the IPL into a holding company valued at as much as $30 billion, in which Saudi Arabia would then take a significant stake, people familiar with the matter said. The talks were held when the kingdom’s defacto ruler visited India in September, the people said, asking not to be named as the information is not public.
Under plans discussed at the time, the kingdom proposed investing as much as $5 billion into the league and help lead an expansion into other countries, similar to the English Premier League or the European Champions League, the people said.
While the Saudi government is keen to press on with a deal, the Indian government and the country’s powerful but opaque cricket regulator — BCCI — are likely to take a call on the proposal after next year’s federal elections, the people said. The BCCI is led by Jay Shah, the son of India’s Home Minister Amit Shah — a close ally of Premier Narendra Modi.
This story is from the November 04, 2023 edition of Mint Mumbai.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Mint Mumbai
Mint Mumbai
In a sea of tech talent, companies can’t find the workers they want
There has rarely, if ever, been so much tech talent available in the job market. Yet many tech companies say good help is hard to find.
4 mins
October 03, 2025
Mint Mumbai
Hexaware sued for $500 million in US over patent breach
American IT services firm Natsoft Corp. has sued Hexaware Technologies Ltd for breach of contract and patent infringement, seeking $500 million in damages from the latter, in one of the biggest patent cases against an Indian IT firm.
3 mins
October 03, 2025
Mint Mumbai
GST boom ahead?
India's latest goods and services tax (GST) revenue figures paint an optimistic picture.
1 min
October 03, 2025
Mint Mumbai
H-1B clampdown may extend to US college faculty
Rising anti-immigration sentiment in the US is no longer confined to moves to limit foreign technology workers from entering the country.
2 mins
October 03, 2025
Mint Mumbai
FPIs pull record ₹2 tn on valuations, weak rupee
Heavy outflows could cap market gains; Nifty returns just 0.3% in dollar terms
2 mins
October 03, 2025
Mint Mumbai
Instant grocery delivery is going luxe to stand out
Blinkit joins the race as it expands to ozone-washed fruits and artisanal breads to cheese
2 mins
October 03, 2025
Mint Mumbai
Next-gen reforms to tackle land, women's participation
The initiatives seek to tackle some of the intractable challenges in India's development story
2 mins
October 03, 2025
Mint Mumbai
Why India's best students face a tough job market
Students entering this year's placement season are stepping into a rough job market.
2 mins
October 03, 2025
Mint Mumbai
Govt scans e-commerce cos’ COD charges, refund delays
The government will examine if cash-on-delivery charges imposed by online retailers are aimed at nudging consumers to pay upfront, and why refunds are delayed or blocked if prepaid orders are cancelled, said two people aware of the matter.
2 mins
October 03, 2025
Mint Mumbai
WHY INDIA IS SEEKING A NEW SUNRISE IN JAPAN
India missed out on Japanese investment in its initial post-reform years. That could change now
7 mins
October 03, 2025
Translate
Change font size