Temasek is exploring investment opportunities in India’s booming Indian Premier League (IPL) cricket league, a senior executive ​told Reuters, making the Singapore state investor the latest ‌player to target one of the world’s richest sports tournaments.

The IPL, once the preserve of Bollywood stars and Indian ​tycoons, is increasingly attracting sovereign wealth funds, private equity firms ​and billionaire investors as booming media rights and ⁠rising team revenues drive franchise values higher.

“IPL is a ​marquee property and we remain interested in it,” Vishesh Shrivastav, ​managing director at Temasek India, said in an interview, declining to name any franchise it was evaluating.

“For the right opportunity, we would ​jump on it,” he added, confirming the firm’s interest ​in IPL for the first time.

Two major IPL franchise deals this year highlighted ‌the ⁠competition’s growing appeal. United Spirits, the Indian arm of Diageo, agreed in March to sell Royal Challengers Bengaluru at a USD1.8bn valuation to a consortium including billionaire David Blitzer’s Bolt ​Ventures and ​Blackstone.

The IPL’s valuation ⁠has climbed over the years to cross USD18.5bn last year, US-based investment bank Houlihan ​Lokey says.

Temasek has steadily expanded its India ​footprint, with ⁠portfolio exposure more than quadrupling over the past decade to USD42bn. Shrivastav said Temasek would continue to focus on financial ⁠services, ​consumer and healthcare in India.

Some of ​Temasek’s India investments include snacks maker Haldiram’s and Manipal Hospitals.’