The Indian Premier League (IPL) has seen its value climb to an estimated $20.6bn (£15.5bn), a significant 10.3% rise over the past year. This surge is attributed to ownership deals involving two of its largest franchises, according to a report from investment bank Houlihan Lokey.
The T20 competition is now considered one of the world's most valuable sports brands. The report highlights that, on a per-match basis, the IPL is second only to the NFL globally.
Royal Challengers Bengaluru, champions for the last two seasons and featuring former India captain Virat Kohli, remains the league's most valuable franchise, with a brand value of $312m (£234.5m). This team was recently acquired by a consortium including US asset management giant Blackstone in a deal valued at nearly $1.8bn (£1.35bn), marking the most expensive franchise transaction in IPL history.
The Rajasthan Royals also saw a change in ownership, with a deal worth $1.65bn (£1.24m). Indian steel tycoon Lakshmi Mittal and his family, alongside SII vaccine billionaire Adar Poonawalla, have taken control of the team.
Harsh Talikoti of Houlihan Lokey stated that cricket's evolution into a globally owned, institutionally backed asset class has accelerated in 2026, with the IPL continuing to redefine the global sports landscape. He added that these transactions demonstrate continued investor confidence in long-term value creation.