IPL 2024: Saudi Arabia Considering a $5 Billion Investment

Saudi Arabia Planning To Invest $5 Billion in IPL 2024, Valued at $30 Billion and Take the League to Global 

Saudi Arabia keeps eyes on investing big in cricket’s crown jewel, the Indian Premier League (IPL). They’re in talks to buy a multibillion-dollar stake and potentially turn the IPL 2024 into a $30 billion powerhouse, with the Saudi government playing a significant role. These discussions took place during Crown Prince Mohammed bin Salman’s visit to India in September.

However, the Indian government and the powerful but secretive cricket authority, BCCI, are playing it cool. They’re likely to decide the upcoming federal elections. BCCI is led by Jay Shah, son of India’s Home Minister Amit Shah, who’s a close ally of Prime Minister Narendra Modi. 

If a deal materializes, Saudi Arabia’s sovereign wealth fund, known for backing previous sports investments, could be the vehicle to make it happen. But for now 

How much money is earned by each IPL team every year? 

 In the 11th edition of the Indian Premier League (IPL), all eight teams are set to make a good amount of money. They will each generate at least Rs 200 crore in revenue and make a tidy profit. This is a first in the history of the league, which has been around for a decade, and it’s all thanks to the money they get from media rights. 

The Board of Control for Cricket in India (BCCI) and team owners have confirmed that each team, even some that haven’t been profitable in the past ten years, will now earn at least Rs. 75 crore in profit every season. Some teams might even make Rs 100-125 crore in profit. So, it’s clear that this year is going to be a profitable one for all eight IPL teams. 

How much revenue does IPL generate? 

After the IPL auction wrapped up on December 23, 2022, the Board of Control for Cricket in India (BCCI) raked in a whopping ₹48,390 crores. This marked a remarkable threefold increase in revenue for India’s premier sporting event compared to the previous cycle. In simple terms, the IPL made a lot more money this time around. 

Mukesh Ambani’s Viacom-18 won the rights to show IPL 2024 matches on the internet for ₹23,758 crore, taking over from Disney Star. Disney Star, however, held onto the rights to show IPL on television for ₹23,575 crore. The rights to broadcast IPL matches all around the world were split between Viacom and Times Internet for a total of ₹1,075 crore. Additionally, Viacom paid ₹2,991 crore for the rights to air 18 important matches each season. This means the IPL is now much richer thanks to this new broadcasting deal 

Saudi Arabia global cricket destination 

In recent years, Saudi Arabia has been making significant investments in sports, aiming to become a global cricket hub. The chairman of the sports governing body in the kingdom has expressed this ambitious goal. Notably, the financial resources they’re willing to deploy are substantial, catching the attention of prominent figures like the England cricket captain and Ben Stokes. 

While other countries have attempted to replicate the successful formula of leagues like the IPL, such as the English Premier League and similar leagues in South Africa and the Emirates, they haven’t quite achieved the same commercial dominance.

Saudi Arabia’s focus on cricket comes after substantial spending on sports, the Premier League, and football, including hosting the 2034 FIFA World Cup. 

Their investments have extended to other sports, including the WWE, and they’ve even acquired the English Premier League football club, Newcastle United FC. In the realm of football, they’ve signed big-name players like Neymar from Brazil, Karim Benzema from France, and Cristiano Ronaldo from Portugal.

However, these lavish sports expenditures have led to accusations of “sports washing,” with concerns about the kingdom’s human rights record and its global image. Saudi Arabia is certainly making waves in the world of sports, and it’s a development worth keeping an eye on 

Why Saudi Arabia is interested in IPL? 

Saudi Arabia is aware that its oil resources won’t last forever because the world is shifting towards cleaner energy sources like solar power and batteries. To prepare for this change, Saudi Arabia is focusing on diversifying its economy. They are making progress in fields like tourism and sports. 

In particular, Saudi Arabia is showing interest in cricket, and they are planning to invest in India’s Indian Premier League (IPL), one of the world’s biggest cricket leagues. They have discussed this with the Indian government and the Board of Control for Cricket in India (BCCI). 

Saudi Arabia aims to invest $5 billion initially, with hopes of increasing this investment to $30 billion in the future. Their goal is to strengthen ties with India and promote themselves beyond just tourism. They want people to associate Saudi Arabia with various sports, including golf, football, UFC, and cricket, making it a destination for more than just tourism. 

IPL 2024 Auction Date: 

• IPL 2024 is scheduled for March. 

• The IPL 2024 Auction is expected in December 2023, likely in Dubai. 

• Each team in IPL 2024 will have a budget of Rs 100 crore to bid for players. 

• Players will be selected in the auction, and teams can retain some of their existing players. 

IPL 2024 Stats: 

• The BCCI IPL will feature 10 teams, each playing 20-over matches. 

• The first match will be held right after the opening ceremony. 

• Match statistics, including scores, sixes, and fours, will be regularly updated. 

• Player and team rankings will be updated after each match. 

• The Man of the Match will be awarded for outstanding performance. 

IPL 2024 Rules: 

• Each team can have a 2.5-minute strategic time-out during the innings. 

• Bowling teams unable to finish on time can have only 4 fielders outside the field. 

• Teams can use substitutes before the start of the innings. 

• Teams can declare their 11 players before or after the toss. 

• The team can have a maximum of 4 players on the field. 

• Squads can have up to 15 players with a maximum of 8 overseas players. 

BCCI IPL 2024 Venue

• Kolkata – Eden Gardens 
• Bengaluru – M Chinnaswamy Stadium 
• Mumbai – Wankhede Stadium 
• Chennai – MA Chidambaram Chepauk Stadium 
• Delhi – Feroz Shah Kotla Stadium 
• Ahmedabad – Narendra Modi Stadium 
• Lucknow – BRASOV Ekana Cricket Stadium 

IPL 2024 Captain List 

Teams	Captains
Chennai Super Kings Captains	MS Dhoni
Mumbai Indians Captains	Rohit Sharma
Delhi Capitals Captains	Rahul
Delhi Capitals Captains	Pandya
Lucknow Super Giants Captains	Shreyas Iyer
GT Captains	Pandya
Kolkata Knight Riders Captains	Shreyas Iyer
Punjab Kings Captains	Shikhar Dhawan
Rajasthan Royals Captains	Sanju Samson
Royal Challengers Bangalore Captains	Faf du Plessis
Sunrisers Hyderabad Captains	Aiden Markram

IPL 2024 Schedule

IPL 2024 Schedule	23rd March 2024 to 29th May 2024 (Expected)
Administrator	BCCI & IPL Council
Title sponsorship	Tata Group
Auction dates	To be announced
Host Country	India
Total matches	74
Number of teams	10

Conclusion

Saudi Arabia is considering a major investment of $5 billion in the Indian Premier League (IPL), aiming to turn the league into a $30 billion powerhouse. The talks took place during Crown Prince Mohammed bin Salman’s visit to India. However, the Indian government and the BCCI are cautious, with a decision likely post the federal elections.

Each IPL team is set to make substantial profits, and the league’s revenue increased significantly in the latest auction. Saudi Arabia’s interest in cricket aligns with its strategy to diversify the economy beyond oil.