IPL Business Value Increases To 2 Lakh Crores; RCB, MI, KKR Most Valuable Franchises
The league's standalone brand value increased 10.3% to $4.3 billion (Rs 41,106 crore), up more than $1.1 billion since 2023, cementing its position as one of the world's finest sports brands
XtraTime Newsdesk: Global Investment bank Houlihan Lokey has issued its 2026 IPL Brand Valuation Study, revealing that the Indian Premier League's enterprise value has increased 11.4% year on year to $20.6 billion (Rs 197,024.68 crore). This represents the second straight year of double-digit growth. Concurrently, the league's standalone brand value increased 10.3% to $4.3 billion (Rs 41,106 crore), up more than $1.1 billion since 2023, cementing its position as one of the world's finest sports brands, following only the NFL on a per-match valuation basis.
The 2026 season also saw a significant transition in franchise ownership. A consortium led by Blackstone, Bolt Ventures, Aditya Birla Group, and Times of India Group paid a record $1.78 billion for Royal Challengers Bangalore (RCB). In a separate transaction, the Mittal family and Adar Poonawalla paid $1.65 billion for the Rajasthan Royals. These milestone agreements indicate growing institutional faith in the IPL's massive audience reach, dependable income structures, and long-term commercial potential.
"Cricket's evolution into a globally owned, institutionally backed asset class has accelerated further in 2026, with the IPL continuing to redefine the global sports landscape," says Harsh Talikoti, Director in Houlihan Lokey's Financial and Valuation Advisory business.
Talikoti further stated, "What the market confirmed this year, through landmark franchise transactions, is the extent to which the league can attract precisely the caliber of global, institutional, and strategic capital it was built to draw. Franchise valuations have reached new highs, private capital participation has accelerated, and the league's commercial ecosystem continues to diversify. The IPL represents a unique convergence of sport, media, and consumer opportunity, underpinned by strong revenue visibility, disciplined cost structures, and an expanding global audience. These latest transactions further demonstrate the confidence investors continue to place in the long-term value creation opportunity".
The 2026 edition also highlighted a structural shift in media consumption, with record digital scale and a significant gap between growing digital and diminishing linear television viewing. According to JioStar, the tournament had a total reach of 1.06 billion screens and increased viewership by 7% year on year, with the first weekend alone reaching 515 million people and producing 32.6 billion minutes of watch-time.
Connected TV (CTV) was the primary growth driver, with reach up 26% year on year, while linear television ratings fell 18.8%. As overall league revenues topped US$1.8 billion, the continued transition from television to digital is changing monetisation dynamics, allowing premium, data-driven partnerships such as a three-year agreement with Google Gemini.
According to the report, the Royal Challengers Bangalore retained its position as the IPL's most valuable franchise with a brand value of US$312.0 million, up 16.0% from US$269.0 million in 2025. RCB also became the first cricket team to cross the US$300.0 million brand value mark. This is the mark of the franchise's sustained success in these past few years(winning two IPLs in a row) and great engagement on social media with fans.
Despite a dismal few seasons recently, the Mumbai Indians retain their 2nd spot. They recorded a brand value of US$264.0 million, up 9.1% from US$242.0 million in 2025. This shows how resilient the value of the franchise is because of their legacy of being five time champions, institutional ownership, and deeply embedded commercial partnerships. The franchise's brand strength remains structurally decoupled from short-term performance, reinforcing its position as one of the IPL's most enduring and institutionally supported assets.
Ranked third, KKR's brand value increased by 7.9% to US$245.0 million from US$227.0 million in 2025. The brand continued to profit from the economic momentum created by its 2024 title triumph, which was bolstered by strong digital engagement and the enduring popularity of its entertainment-focused reputation under high-profile management. Even without a lengthy playoff run, KKR maintained consistent brand development, thanks to its ability to translate cultural importance into economic value.
CSK was ranked fourth with a brand worth of US$244.0 million, showing a 3.8% year-on-year increase, however its commercial momentum slowed after a second straight disappointing season on the pitch and a decreased on-field role for MS Dhoni. While CSK is one of the IPL's most powerful heritage brands, the survey highlights that generational change is becoming a more essential aspect in maintaining a premium valuation.
Sunrisers Hyderabad placed fifth among the remaining clubs, with a brand worth of US$168.0 million (+9.1%), thanks to several playoff appearances and increasing commercial success. The Rajasthan Royals were placed sixth at US$161.0 million (+10.3%), owing to a playoff berth, the emergence of teenage wonder Vaibhav Sooryavanshi, and the landmark ownership acquisition.
The Punjab Kings ranked seventh with US$158.0 million (+12.1%), continuing their solid commercial trend despite barely missing the playoffs. Gujarat Titans rated eighth with a brand value of US$157.0 million (+10.6%), after reaching its third IPL final in five seasons and cementing its position as one of the league's fastest-growing commercial teams.
Delhi Capitals were rated ninth at US$156.0 million (+2.6%). They remained competitive until the final week of the season, while Lucknow Super Giants were ranked tenth at US$122.0 million (flat), following a dismal campaign that concluded in Rishabh Pant stepping down as captain at the end of the season.
