The value of the IPL as a business has risen to USD 20.6 billion, up 11.4 per cent year-on-year, marking a second consecutive year of double-digit business value growth for the popular cricket competition.
IPL’s stand-alone brand value increased 10.3 per cent year-on-year to USD 4.3 billion, having added more than USD 1.1 billion in value since 2023, reinforcing its position as one of the world’s most valuable sports brands, the report said. On a per-match basis, only the National Football League (NFL) ranks ahead of the IPL globally.
The 2026 season marked a significant milestone for IPL franchise ownership, with Royal Challengers Bengaluru (RCB) and Rajasthan Royals (RR) changing hands in two landmark transactions, the report pointed out.
RCB was acquired by a consortium comprising Blackstone, Bolt Ventures, Aditya Birla Group, and Times of India Group at a reported valuation of USD1.78 billion, the most expensive single IPL franchise transaction in history, while Rajasthan Royals was acquired by the Mittal family and Adar Poonawalla at a reported valuation of USD 1.65 billion.
These transactions underscore growing institutional confidence in the IPL, as leading global investors increasingly recognize the league’s combination of audience scale, predictable revenue streams, and long-term commercial growth potential, the report said.
“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,” Harsh Talikoti, Director in Houlihan Lokey’s Financial and Valuation Advisory business, said in a statement.
“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,” he said.
Franchise valuations have reached new highs, private capital participation has accelerated, and the league’s commercial ecosystem continues to diversify, Talikoti said.
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, he added.
The 2026 edition also underscored a structural shift in media consumption, combining record digital scale with a clear divergence between accelerating digital and declining linear television viewership, the report said.
The ongoing migration from broadcast to digital is reshaping monetization dynamics, enabling premium, data-driven partnerships such as a three-year association with Google Gemini, as total league revenues surpassed USD 1.8 billion.
Ranked No. 1, RCB retained its position as the IPL’s most valuable franchise with a brand value of USD 312 million, up 16 per cent from USD 269 million in 2025. RCB also became the first cricket team to cross the USD 300 million brand value mark.
Ranked No. 2, billionaire Mukesh Ambani-owned Mumbai Indians recorded a brand value of USD 264 million, up 9.1 per cent from USD 242 million in 2025.
Kolkata Knight Riders (KKR) rose to a brand value of USD 245 million, up 7.9 per cent from USD 227 million in 2025, occupying the third position.
CSK recorded a brand value of USD 244 million, representing growth of 3.8 per cent year-on-year, occupying the fourth position.
The report however pointed out that CSK’s commercial momentum moderated following a second consecutive underwhelming season on the field and a reduced on-field role for MS Dhoni.
While CSK remains one of the IPL’s strongest legacy brands, the report notes that generational transition is becoming an increasingly important factor in sustaining premium valuations.