The Indian Premier League’s value has surged to an estimated $20.6bn (£15.5bn), boosted by ownership deals involving two of its biggest franchises, according to a report by the investment bank Houlihan Lokey.
- IPL value rose 10.3% year-on-year, cementing its place among the world’s most valuable sports brands; only NFL outranks it per match.
- Royal Challengers Bengaluru retained top franchise value at $312m and was sold to a consortium including Blackstone for nearly $1.8bn.
- Rajasthan Royals changed hands for $1.65bn, with Lakshmi Mittal and Adar Poonawalla joining the ownership group.
- Houlihan Lokey said institutional ownership accelerated in 2026, underscoring investor confidence in the IPL’s long-term value creation opportunity.
The T20 competition’s value rose 10.3% over the past year, underlining its position as one of the world’s most valuable sports brands, it said. “On a per-match basis, only the NFL ranks ahead of the IPL globally,” it added.
Royal Challengers Bengaluru, the IPL champions for the past two seasons and home to the former India captain Virat Kohli, retained their status as the league’s most valuable franchise with a brand value of $312m (£234.5m).
The team was recently acquired by a consortium including the US asset management giant Blackstone in a deal worth nearly $1.8bn (£1.35bn), the most expensive franchise transaction in IPL history. Rajasthan Royals also changed hands in a deal valued at $1.65bn (£1.24m), with the Indian steel tycoon Lakshmi Mittal and his family joining the SII vaccine billionaire Adar Poonawalla in taking control.
“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,” Houlihan Lokey’s Harsh Talikoti said. “These latest transactions further demonstrate the confidence investors continue to place in the long-term value creation opportunity,” he said in a statement.
The league, which began in 2008, has become a top revenue earner for the Board of Control for Cricket in India and was estimated to generate more than $11bn (£8.27bn) a year for the Indian economy in 2020.
