In 2007, following India’s triumph in the T20 World Cup 2007, the Board of Control for Cricket in India (BCCI) had a hunch that the IPL would be a massive blockbuster among the fans from every nook and corner of the country. Notably, their intuition was right as India’s premier T20 competition was received well by the cricket fraternity. Fans had the privilege to relish the nuances of the game that has completed 16 editions so far.
IPL has become the most-watched franchise cricket tournament in the world. Moreover, the IPL is known to attract top cricketers from across the world, offering a great platform for international or overseas stars to express themselves, thereby promoting aggressive and entertaining gameplay. This is precisely the reason why this global representation improved the competitive spirit and fan engagement as well.
Saudi Arabia proposed to invest 5 Billion Dollars in IPL, as per reports
If the reports doing the rounds are to be believed, Saudi Arabia have expressed their willingness to cash in on a multibillion-dollar stake in cash-rich IPL, although there has been no official update regarding the same. As per Bloomberg News outlet, Saudi Arabian Crown Prince Mohammed bin Salman’s confidants already held advanced talks with the Indian government officials and it seems that the Gulf nation is trying to get some leads.
The report went on to add that the discussion was all about moving the lucrative IPL into a holding company estimated at as much as $30 billion. As per the report, the potential discussion took place when Mohammed bin Salman visited India in September and they are keenly interested in putting forward a colossal investment of $5 billion into the IPL in a bid to augment the league to other countries.
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IPL has successfully completed sixteen seasons since its inception in 2008. The world’s most-watched T20 franchise cricket league has generated a staggering revenue through ticket sales, sponsorships, merchandise, advertisements and broadcasting rights. Chennai Super Kings and Mumbai Indians are the most successful teams in IPL. The two heavyweights won five IPL titles apiece. Kolkata Knight Riders won two titles whereas the likes of Rajasthan Royals, Deccan Chargers (now-defunct), Sunrisers Hyderabad and Gujarat Titans won a title apiece.