BCCI prioritizes its monopoly over money and would never permit Indian players to participate in another T20 league, regardless of the amount of compensation offered. The popularity of competing leagues would surge, posing a direct threat to the status that IPL currently enjoys.
Furthermore, there is mounting criticism over the toll IPL takes on players' health, with concerns raised by Rohit Sharma and instances of injuries suffered by Jasprit Bumrah. These factors make it unlikely that BCCI will allow top Indian players to participate in other T20 leagues.
BCCI finds itself unable to bring the IPL situation under control, but they refuse to exacerbate it by permitting Indian stars to participate in foreign leagues.
The Saudi Arabian league can only hope to recruit non-contracted Indian players, as the likes of Kohli, Rohit, Bumrah, Pandya, SKY, Siraj, and other top players are off-limits. While they can still attract some promising talents such as Prithvi Shaw, this strategy is unlikely to draw attention from the Indian audience, which is their primary objective. Although it may enhance the league's overall caliber, it will not help them attain the desired viewership.
A potential league in Saudi Arabia could pose a significant threat to the IPL, potentially leading to a loss of brand value. However, given BCCI's strong commercial acumen, it's unlikely that they will allow this to happen. BCCI understands the value of their golden goose and will not risk its demise by accepting funds from Saudi Arabia.
Regardless of the amount of money they have, playing in empty stadiums would undermine the significance of the league. Cricket crowds play a crucial role in the success of the sport.
News & image source -
https://www.smh.com.au/sport/cricket/saudi-arabia-seeks-to-set-up-world-s-richest-cricket-competition-20230412-p5czwh.html