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The Indian Premier League has grown exponentially and is currently worth billions of dollars. Eighteen years after its launch, the Indian domestic league has become one of the most valuable sporting assets in the world, enjoying billions of investment funds, institutional capital, and a viewership that can rival the most popular competitions on the planet.

Per the IPL Brand Valuation Study 2026 by Houlihan Lokey, the league’s enterprise value has increased to $20.6 billion (₹197,024.68 crore), an 11.4% increase from last year and the second consecutive year of double-digit growth. The IPL’s standalone brand value has also surged by 10.3% to $4.3 billion (41,106 crore), making it one of the most valuable sports leagues in the world. In particular, the IPL is up more than $1.1 billion from where it was in 2023.

The IPL Is No Longer Just Cricket

The biggest announcement of the year came from the field.

Royal Challengers Bengaluru (RCB) were bought at a record price by a consortium led by Blackstone, Bolt Ventures, Aditya Birla Group and Times of India Group for $1.78 billion, making it the most expensive franchise transaction in IPL history. Shortly after, the Mittal family and Adar Poonawalla acquired the Rajasthan Royals at a valuation of $1.65 billion, highlighting the growing confidence in the Indian Premier League (IPL) as a commercial asset.

Harsh Talikoti, Director – Financial and Valuation Advisory, Houlihan Lokey, comments on the record-breaking deals, saying that they signify a structural change in perception.

“Cricket’s emergence as a truly globally owned and institutional asset class has accelerated in 2026, with the IPL once again leading the charge,” he says.

“Franchise valuations, private equity interest, and commercial diversification all point to the IPL’s status as a long-term investment as opposed to a short-term sporting asset.”

The IPL’s shift towards a digitally driven sports entertainment ecosystem has also been on full display during the 2026 season.

“The tournament’s digital-first strategy has paid rich dividends, with 1.06 billion screens across 71 countries watching the IPL this season, reflecting a 7% YoY growth in global viewership,” states JioStar in its IPL 2026 viewing figures.

The opening weekend alone delivered 515 million viewers and 32.6 billion minutes of watch time.

While Connected TV (CTV) became the largest platform (up 26% YoY), traditional TV consumption declined by 18.8%.

This shift has turbo-charged the IPL’s commercial growth, with high-value partnerships being driven by the data insights afforded by digital platforms.

The three-year partnership with Google Gemini is one such example, and has contributed to the overall value of IPL commercial rights passing the $1.8 billion mark.

“The strength of the RCB brand is something I know well, both in its loyal fanbase and the commercial opportunity it represents,” says Satyan Gajwani, RCB chairman.

“For us, buying into RCB was an investment in cricket, but also in its ability to scale on the field and on the boardroom.

Across the board, the fan engagement levels of RCB are unmatched within the IPL, making this a unique opportunity.”

Punjab Kings co-owner Ness Wadia speaks about the IPL’s potential as both a sports and media business.

“IPL teams need to be judged as sports and entertainment businesses. It’s quite extraordinary that per match, its media rights already rival some of the most established sporting leagues in the world.

That is incredible for a tournament that is only eighteen years old.”

RCB Leads the Brand Race

The report reaffirmed RCB’s standing as the most valuable franchise in the IPL.

RCB became the first-ever cricket team to cross the $300 million brand value milestone, rising 16% year-on-year to the $312 million mark. The increase was attributed to a combination of factors, including consistent on-field success, an unrivaled fervour of fans, and a smart digital and commercial strategy.

Mumbai Indians remained in second place with a brand value of $264 million, the highest among the teams, despite a disappointing season, thanks to their five IPL titles.

Kolkata Knight Riders took the third spot with a brand value of $245 million, continuing to reap the rewards of the commercial success of their 2024 IPL victory and a strong global brand image.

Chennai Super Kings retained the fourth position with a brand value of $244 million. However, the report stated that CSK is in transition after two successive mediocre campaigns and reduced MS Dhoni’s role.

Sunrisers Hyderabad closed the top five with a brand value of $168 million, followed by Rajasthan Royals ($161 million), followed by Punjab Kings (6th), with a brand value of $158 million. Gujarat Titans ($157 million) and Delhi Capitals (7th), with a brand value of $156 million and Lucknow Super Giants ($122 million.

However, the 3rd edition of the valuation report does more than just rank franchises by brand value; it serves as a reminder that the IPL has evolved into a truly global sports business, generating revenues through media rights, technology platforms, and substantial investments from business groups, making it one of the most popular leagues in the world, with viewership set to grow.