What's happened
The Indian Premier League’s business value has reached new highs, with the league reporting double-digit growth and record franchise deals. Bengaluru and Rajasthan Royals haveChange: not included here
What's behind the headline?
Analysis
- The IPL’s stand-alone brand value has risen by about 10.3% over the past year, reaching $4.3bn, according to Houlihan Lokey. This places the IPL among the most valuable sports brands globally.
- Ownership shifts at Bengaluru and Rajasthan Royals demonstrate the league’s appeal to major investors, with Blackstone-led consortium and Mittal/Poonawalla groups driving multi-billion deals.
- The trend signals a broader move of sports franchises toward institutional funding, potentially reshaping governance, sponsorship dynamics, and cross-border media rights.
- Expect continued private capital inflows, expanding international viewership, and higher valuations for top franchises as the league consolidates its position in the global sports economy.
How we got here
Since its 2008 launch, the IPL has grown from a domestic cricket tournament to a global brand, attracting top players and large private capital. This year’s filings show surging brand value and major ownership changes, underscoring cricket’s evolution into a globally backed asset class.
Our analysis
Bloomberg reports that the IPL has attracted owners who are national celebrities and has drawn top players to India’s cricket season. The Guardian notes a 10.3% rise in the league’s value, with Bengaluru and Rajasthan Royals selling for record sums to Blackstone-led and Mittal/Poonawalla consortia. Al Jazeera highlights a diversified commercial model and growing franchise valuations, with Bengaluru valued at about $312m and the league’s brand value at $4.3bn.
Go deeper
- What will the price tag on future franchise sales look like?
- Which players and teams stand to gain most from higher valuations?
- How will investors’ appetite affect broadcast deals and sponsorships?
More on these topics
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Houlihan Lokey - American multinational investment bank and financial services company
Houlihan Lokey, Inc. (NYSE: HLI) is an American multinational independent investment bank and financial services company, and the No. 1 ranked global M&A advisor by transaction count. Houlihan Lokey was founded in 1972 and is headquartered at Constellation Place in Century City, Los Angeles, California. The firm advises large public and closely held companies as well as institutions and governments. Its main service lines include mergers and acquisitions, capital solutions, restructuring and distressed M&A, fairness opinions, and financial and valuation advisory. As of February 2026, Houlihan Lokey employs more than 2,700 employees worldwide.
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Indian Premier League - Cricket league
The Indian Premier League is a professional Twenty20 cricket league in India contested during March or April and May of every year by eight teams representing eight different cities in India.
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Adar Poonawalla - Chief Executive Officer of the Serum Institute of India
Adar Poonawalla is the chief executive officer of Serum Institute of India. Founded in 1966 by his father, Cyrus Poonawalla, it is the world's largest vaccine manufacturer by number of doses produced.
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Rajasthan Royals - Cricket team
The Rajasthan Royals are a franchise cricket team based in Jaipur, Rajasthan, that plays in the Indian Premier League. Founded in 2008 as one of the initial eight IPL franchises, the team is based at the Sawai Mansingh Stadium in Jaipur.
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India - Country in South Asia
India, officially the Republic of India, is a country in South Asia. It is the second-most populous country, the seventh-largest country by land area, and the most populous democracy in the world.