Saudi Arabia's SRJ Sports Investments, backed by the Public Investment Fund (PIF), has pledged to launch a global T20 cricket league with an investment of $400 million. The project is expected to feature eight teams competing in four tournaments each year across various international venues.
The boards agreed to deny No Objection Certificates (NOCs) to their players during recent discussions at the World Test Championship final at Lord’s. Notably, the BCCI and ECB also plan to lobby the ICC to withhold official recognition or support for the Saudi-backed tournament.
Cricket Australia Open to Saudi Arabia’s Proposed T20 League
However, Cricket Australia (CA) is interested in partnering with Saudi Arabia’s T20 league. CA sees this as an opportunity to secure a financial boost. The Big Bash League (BBL) franchises are still owned by CA and its state associations.
Cricket South Africa Earned Over £100 Million by Selling SA20 Franchises
The Indian Premier League (IPL) remains the most valuable cricket tournament, with an estimated worth of $12 billion. Meanwhile, the ECB recently sold a 49% stake in its ‘Hundred’ franchises for around £520 million (approximately $700 million USD).
“Cricket South Africa raised more than GBP 100m (USD 136 million) by selling franchises in its SA20 competition to Indian Premier League owners three years ago," the report added.
Notably, on May 9, 2024, the ICC announced a four-year extension of its global sponsorship agreement with Aramco, Saudi Arabia’s state-owned oil giant.
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