IPL founder Lalit Modi has welcomed reports that Saudi Arabia is interested in investing in the cash awash Indian Premier League.
According to a Bloomberg report, 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.
Modi suggested a football-like relegation promotion model going forward, with as many as 20 teams part of the second-tier league for IPL.
Modi revealed that he hasn’t heard from BCCI in 15 years but if he was among the current stakeholders he would gladly accept the investment from Saudi Arabia.
“…I don’t have an inside view of the BCCI. They haven’t spoken to me in 15 years. I am not privy to that but if I was there, I would definitely be thinking of a second secondary-tier league with ownership coming in again, at the second level out there,” the 59-year-old told Revsportz.
“Not at the valuation of billion dollars but at the valuation of $50 million, $100m, which was the valuation of IPL in year one. There can be up to 20 teams, coming in from the secondary league and two teams are relegated up and two teams are relegated down will make it extremely competitive, extremely valuable to the players and make a new game altogether,” Modi further stated.
