The Indian Premier League (IPL) has achieved a major financial milestone, with its overall business enterprise value crossing the $20 billion mark for the first time. According to the 2026 IPL Brand Valuation Study by global investment bank Houlihan Lokey, the league’s enterprise value has risen to $20.6 billion, reflecting an 11 percent year-on-year increase and marking its second consecutive year of double-digit growth.
The report also valued the IPL’s standalone brand at $4.3 billion, representing a 10 percent increase compared to the previous year. Since 2023, the league’s brand value has grown by more than $1.1 billion, highlighting the tournament’s expanding commercial strength and global appeal.
Houlihan Lokey noted that, on a per-match basis, only the National Football League (NFL) generates greater value worldwide, placing the IPL among the most valuable sports properties globally.
Strong Investment Activity Drives Growth
The report attributes the IPL’s latest valuation surge to several factors, including record franchise transactions, increasing digital viewership, and rising institutional investor interest.
Two major franchise ownership deals stood out during 2026. Royal Challengers Bengaluru changed ownership in a transaction valued at $1.78 billion, while Rajasthan Royals recorded a deal worth $1.65 billion. These transactions established new valuation benchmarks for IPL franchises and reflected growing confidence among investors in the league’s long-term commercial potential.
Harsh Talikoti, Director in Houlihan Lokey’s Financial and Valuation Advisory business, said in the report that cricket has evolved into a globally owned and institutionally backed asset class, with the IPL continuing to reshape the international sports business landscape.
Digital Audiences Continue to Expand
The study also highlighted changing fan viewing habits as digital platforms continue to play a larger role in the league’s growth.
According to JioStar data cited in the report, the 2026 IPL reached 1.06 billion screens, while connected TV viewership increased by 26 percent year-on-year. At the same time, traditional linear television ratings declined, indicating an ongoing shift toward digital consumption.
The report further revealed that total IPL revenues exceeded $1.8 billion, demonstrating the league’s continued ability to generate significant commercial returns through broadcasting, sponsorships, and other revenue streams.
Also Read: IPL surge lifts JioStar Q1 revenue to ₹10,946 crore as JioHotstar reaches 530 million monthly users
Franchises Seen as Long-Term Sports Businesses
Punjab Kings co-owner Ness Wadia said IPL franchises are increasingly being viewed as long-term sports and entertainment businesses rather than teams operating only during the tournament’s short playing window.
He noted that the IPL consistently delivers exceptional audience reach, sponsorship opportunities, and fan engagement within less than two months of competition, making franchise ownership an attractive long-term investment.
The growing interest from institutional investors and high-value ownership deals further reflects the league’s transformation into a major global sports business.
Royal Challengers Bengaluru Leads Franchise Rankings
Royal Challengers Bengaluru retained its position as the IPL’s most valuable franchise for the second consecutive year. The team became the first cricket franchise to surpass a brand valuation of $300 million, reaching $312 million after recording a 16 percent increase in brand value.
Despite a challenging season on the field, Mumbai Indians maintained second place with a brand valuation of $264 million. Kolkata Knight Riders followed closely at $245 million, while Chennai Super Kings secured fourth place with a valuation of $244 million.
The remaining franchises also maintained strong valuations, reflecting the league’s overall financial growth and competitive commercial landscape.
IPL 2026 Franchise Brand Value Rankings
| Rank | Franchise | Brand Value (USD Million) |
|---|---|---|
| 1 | Royal Challengers Bengaluru | 312 |
| 2 | Mumbai Indians | 264 |
| 3 | Kolkata Knight Riders | 245 |
| 4 | Chennai Super Kings | 244 |
| 5 | Sunrisers Hyderabad | 168 |
| 6 | Rajasthan Royals | 161 |
| 7 | Punjab Kings | 158 |
| 8 | Gujarat Titans | 157 |
| 9 | Delhi Capitals | 156 |
| 10 | Lucknow Super Giants | 122 |
IPL Strengthens Its Position in Global Sports Business
The latest Houlihan Lokey study highlights the IPL’s continued commercial expansion, supported by growing franchise valuations, increasing digital engagement, and sustained investor confidence. With enterprise value now exceeding $20.6 billion, the tournament has reinforced its position as one of the world’s leading sports leagues.
The combination of rising revenues, record franchise transactions, and expanding audience reach suggests that the IPL remains one of the most valuable sporting ecosystems globally, with every franchise contributing to the league’s steadily growing financial success.
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