Big money as Saudi makes a splash Cricket with IPL auction – World

On By Littum

Saudi Arabia is hosting this year’s Indian Premier League player auction in a partnership between a money-spinning cricket tournament that is expanding its global reach and a kingdom that uses sports to boost its image.

De facto ruler Crown Prince Mohammed bin Salman has backed extravagant sporting investments – culminating in Saudi Arabia hosting the 2034 soccer World Cup – to diversify his oil-rich economy.

Critics point to Saudi Arabia’s human rights record and the murder of journalist Jamal Khashoggi at the Saudi consulate in Istanbul in 2018, accusing the kingdom of “sports laundering”.

The two-day auction, which begins Sunday in Jeddah, is the first cricket event of its size to be held in Saudi Arabia, a country with an underserved fan base for the sport among millions of South Asian migrant workers.

Saudi Cricket Federation chairman Prince Saud bin Mishal said staging the auction reflected the kingdom’s “commitment to develop the sport and demonstrate its position as a global destination for sporting events”.

Saudi Arabia’s heavy spending on sporting events had helped “promote the narrative of a kingdom in transition,” Rice University’s Kristian Coates Ulrichsen said. AFP.

“To the extent that there is now a buzz associated with Saudi Arabia in football and in boxing, the expenditure has succeeded in changing the subject,” he added.

Saudi Arabia has recruited top footballers including Cristiano Ronaldo and Neymar to its league in recent years, while hosting world championship boxing, Formula One racing, tennis and golf.

Visit Saudi, the state tourism arm, and state-owned energy giant Saudi Aramco have both been IPL sponsors.

Cricket already has a fan base in the Kingdom among expatriate workers.

Non-Saudi nationals account for more than 13 million of Saudi Arabia’s 32.2 million people, with over 40 percent coming from cricket-mad Pakistan, India and Bangladesh, according to the 2022 census.

The Kingdom’s Cricket Association is also trying to boost the sport’s popularity among Saudis and has launched a program to introduce it in schools.

“There is a general perception that it is a street game,” Kabir Khan, the federation’s head coach, told the English-language daily. Arabic news in August.

“We need to change that perception.”

Expanding horizons

The Board of Control for Cricket in India (BCCI) is not required to regularly publish its finances and details of the deal for Jeddah to host the auction have not been released.

Royal Challengers Bangalore’s Virat Kohli (R) gestures during the Indian Premier League (IPL) Twenty20 cricket match between Lucknow Super Giants and Royal Challengers Bangalore at the Ekana Cricket Stadium in Lucknow on May 1, 2024. — AFP

But the IPL has generated billions in revenue since its inception in 2008, making the BCCI one of the richest governing bodies in sports.

Two years ago sold the broadcasting rights for five IPL seasons to global media giants for 6.2 billion.

Its player auctions are watched by millions eager to see which of the sport’s top stars will field for their teams, and the BCCI has sought to raise the tournament’s profile by staging the spectacle overseas.

Last year’s auction was held in Dubai, a regular host of international cricket tournaments and which also has a large base of potential fans among its migrant worker population.

Veteran Indian cricket journalist Ayaz Memon told AFP that holding this year’s auction in Saudi Arabia benefited both the kingdom and the board.

“Saudi authorities have been very keen to promote sports in their own country (…) and you get to expand the horizons of the IPL in the sense of creating more awareness of the sport.”

Record breakers

A total of 574 players are in action this year with Indian wicketkeeper Rishabh Pant, England veteran James Anderson and New Zealand all-rounder Rachin Ravindra among the top names.

Australian pacer Mitchell Starc smashed auction records last time when he signed with Kolkata Knight Riders for $2.98 million.

An incremental increase in the tournament’s salary cap means his price is likely to be eclipsed in the coming days.

“As always, you will see certain players breaking records,” said media analyst Karan Taurani of Mumbai-based advisory firm Elara Capital. AFP.

For all the big names, Taurani said many cricketers on the auction list were promising youngsters at the start of their careers and signing an IPL contract was their first shot at a big payday.

“There are not too many players who have more than two to three years of international experience,” he said.

“These players will see a big jump in terms of compensation.”

Dates for next year’s IPL have not been released, but seasons usually run from March to May.