IPL business value crosses US$20 billion in record growth year

MUMBAI: The IPL isn’t just hitting sixes on the field, it’s sending its valuation into the stands. The Indian Premier League has crossed another commercial milestone, with its business value soaring to US$20.6 billion in 2026, reinforcing its position as one of the world’s fastest-growing sports properties.

According to Houlihan Lokey’s IPL Valuation Study 2026, the league’s business value increased 11.4 per cent from US$18.5 billion in 2025, while its brand value climbed 10.3 per cent to US$4.3 billion, up from US$3.9 billion a year earlier.

It marks the second consecutive year in which both business and brand value have recorded double-digit growth, placing the IPL among a select group of global sporting properties that continue to expand rapidly at scale.

The report said investor confidence received a major boost during the year through two landmark franchise transactions. Royal Challengers Bengaluru (RCB) was acquired for US$1.78 billion, while Rajasthan Royals were valued at US$1.65 billion, highlighting the growing appetite for IPL assets among institutional investors.

According to the study, the entry of investors including Blackstone, the Aditya Birla Group, ArcelorMittal, the Serum Institute of India and David Blitzer reflects the league’s increasing appeal beyond traditional sports owners.

The report noted that the IPL’s commercial model continues to be underpinned by long-term media rights agreements, sponsorship revenues and a salary cap system that helps franchises maintain profitability while supporting sustainable growth.

It also pointed to rising interest from private equity investors in the United States and Europe, indicating growing confidence in the league’s long-term commercial prospects.

Houlihan Lokey said the IPL’s growth mirrors the broader expansion of India’s media and entertainment industry, which reached Rs 2.78 trillion (around US$32 billion) in 2025. The study noted that digital media has overtaken television as the country’s largest media segment, while sports revenues reached an all-time high, driven largely by cricket.

The league’s commercial journey has gathered pace over the past four years. Its business value rose from US$15.4 billion in 2023 to US$16.4 billion in 2024, before climbing to US$18.5 billion in 2025 and US$20.6 billion this year.

Over the same period, the IPL’s brand value has increased by more than US$1.1 billion, reflecting stronger commercial appeal among sponsors, broadcasters and investors.

The report attributed the league’s continued rise to growing digital consumption, expanding OTT adoption, stronger sponsorship partnerships and the broadening of the IPL ecosystem through the Women’s Premier League, new franchise investments and overseas league expansions.

The latest valuation underscores how the IPL has evolved beyond a cricket tournament into one of India’s most valuable entertainment businesses. With media rights, digital audiences and institutional capital continuing to flow into the league, the IPL is increasingly being valued not just as a sporting spectacle, but as a global sports and media powerhouse.