IPL 2024 Update: Saudi Arabia wants to invest 5 billion dollars in IPL

IPL 2024 Update: IPL is one of the biggest sports leagues in the world. Now, Saudi Arabia wants to invest in the world’s biggest cricket league, IPL. Crown Prince Mohammed bin Salman visited India in September to participate in the IPL.

Saudi Arabia wants to invest 5 billion dollars in IPL

Saudi Arabia wants to convert IPL into a holding company at a value of 30 billion dollars i.e. about Rs 2.5 lakh crore. Bin Salman’s advisors have also talked to some Indian government officials about this. Salman wants to invest 5 billion dollars in IPL and make the league a global cricket league instead of a domestic one.

IPL media rights were sold for Rs 48,000 crores

About a year ago, BCCI had sold the media rights of the Indian Premier League (IPL) from 2023 to 2027 for Rs 48,390.52 crore. Disney Star bought the TV rights of the Indian continent for Rs 23,575 crore. Viacom 18 had purchased the digital rights of the Indian continent for Rs 20,500 crore and the non-exclusive digital rights of selected 98 matches for Rs 3,258 crore.

How BCCI earn money from IPL?

1. Media Rights

Media and broadcasting rights, i.e. the right to telecast IPL matches. Apart from the live telecast of the match, only the company which has media rights can show the highlights. It is from this that BCCI gets maximum revenue.

2. Franchise Fee

When any new team becomes a part of IPL, it has to pay franchise fees. This entire process is done through bidding, in which different companies or groups become part of the bidding process to buy the team. In the year 2022, when Gujarat Titans and Lucknow Supergiants became part of the league, Rs 12500 crores were added to BCCI’s account.

3. Title Sponsorship

In 2008, Rs 50 crore was given annually for title sponsorship. In 2023, this figure will exceed Rs 300 crore annually. A two-year deal has been signed between Tata and BCCI, for which a total of Rs 600 crore was given.

Saudi Arabia is investing in football also

Saudi Arabia is investing in major leagues around the world. In the last two years, the Saudi League has made huge investments and included top European footballers from all over the world in its league. This also includes the Saudi Football Pro League, in which one of the world’s greatest footballers, Cristiano Ronaldo, also plays. This year Saudi Arabia is also submitting a bid for the 2036 FIFA World Cup.

When will IPL 2024 start?

IPL 2024 will start on 23 March 2024 and till 29 May 2024.

IPL 2024 auction date?

IPL Player auction will held on 19 December 2023 in Dubai.

Will Dhoni play in IPL 2024?

MS Dhoni had earlier confirmed his intention to play IPL in 2024 with CSK.

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