Saudi Arabia unveils plans for Global T20 League with $500M investment

Saudi Arabia is set to launch a groundbreaking global Twenty20 league, backed by its $1 trillion sovereign wealth fund.

Spearheaded by Australian cricket figure Neil Maxwell, the ambitious project aims to transform the sport by introducing a traveling eight-team league modeled after tennis’s Grand Slams.

Financed by Saudi Arabia’s SRJ Sports Investments, the league is expected to host matches in four different locations throughout the year.

Discussions with the International Cricket Council (ICC) are already underway, with sources indicating that Saudi Arabia is prepared to invest $500 million in the venture.

The concept, developed over the past year by Maxwell—a former Australian cricketer and the manager of Pat Cummins—is designed to address key issues in cricket, including preserving Test cricket and creating new revenue streams for smaller cricketing nations.

The league will feature new franchises based in established cricket-playing nations, including Australia, while also expanding into emerging markets.

Both men’s and women’s competitions are planned, with the final potentially taking place in Saudi Arabia.

Intended to complement existing T20 tournaments such as the Indian Premier League (IPL) and Australia’s Big Bash League, the league aims to fill gaps in the international cricket calendar.

However, significant hurdles remain. The league requires approval from the ICC and national boards like Cricket Australia.

Additionally, the Board of Control for Cricket in India (BCCI) would need to lift its ban on Indian players participating in non-IPL T20 leagues.

If approved, the Saudi-backed league could reshape cricket’s financial landscape by providing an alternative revenue model to the current system, which is largely dominated by India, Australia, and England.

Smaller nations stand to gain from shared funds, potentially reducing their reliance on unprofitable bilateral series.