The Indian Premier League’s (IPL) overall business enterprise value has seen a notable increase, reaching an estimated $20.6 billion. This growth positions the T20 competition as a significant global sporting brand, with its value rising by 11.4% year-on-year. According to a report by the US-based investment bank Houlihan Lokey, the league’s standalone brand value also increased by 10.3% to $4.3 billion over the past year.
The report highlights that on a per-match basis, only the NFL ranks higher than the IPL globally. This growth is attributed to factors such as increasing institutional investor confidence, the rapid adoption of Connected TV (CTV), and strong revenue visibility, which are drawing global capital to IPL franchises as long-term sports and entertainment investments.
Franchise Valuations Reach New Highs
Royal Challengers Bengaluru (RCB) has maintained its position as the most valuable franchise within the IPL, with a brand value of $312 million. This marks a 16% increase from its $269 million valuation in 2025. This valuation makes RCB the first cricket team to exceed the $300 million brand value mark.
The surge in RCB’s valuation follows a significant ownership transaction earlier this year. A consortium including Blackstone, Bolt Ventures, Aditya Birla Group, and Times of India Group acquired the franchise for a reported $1.78 billion. This deal represents the most expensive single-franchise transaction in IPL history.
Another notable ownership change involved Rajasthan Royals, which was acquired by the Mittal family and Adar Poonawalla for $1.65 billion. These transactions underscore the confidence investors have in the long-term value creation opportunities within the IPL.
Driving Factors Behind IPL’s Growth
Harsh Talikoti, a Director in Houlihan Lokey’s Financial and Valuation Advisory business, noted that cricket’s evolution into a globally owned, institutionally backed asset class has accelerated further. He stated that the IPL continues to redefine the global sports landscape, with recent transactions demonstrating investor confidence.
The league, which commenced in 2008, has become a significant revenue generator for the Board of Control for Cricket in India. Its commercial model, which combines broadcast revenues, sponsorship, merchandising, and franchise investment, continues to attract major investors and leading players.
Ness Wadia, co-owner of Punjab Kings, highlighted the changing perception of IPL franchises, noting they are increasingly viewed as long-term sports and entertainment businesses rather than just cricket teams. This perspective is supported by centralized media rights, revenue sharing, and financial discipline, which create a stable and sustainable model for owners.
Beyond Royal Challengers Bengaluru, other franchises also show strong brand values. Mumbai Indians are ranked second with $264 million, followed by Kolkata Knight Riders at $245.0 million.
Satyan Gajwani, co-owner of Royal Challengers Bengaluru and Chairman at Times Internet, emphasized the unique fan base of RCB, which he described as having unparalleled intensity and connection. He also expressed belief in the growth potential of cricket as a global sport and the IPL’s ability to expand its monetization as Indian per-capita income and connected TV penetration increase.
The IPL’s business value has increased by over 11% to $20.6 billion, according to Houlihan Lokey’s ‘2026 IPL Brand Valuation Study’.
Source: theguardian.com
Priya Nair
Sports Reporter
