Bumper IPL takeovers boost T20 cricket franchise league’s value to over $20bn
Multiple blockbuster team sales have boosted the Indian Premier League’s business value to more than $20bn, according to a new report by global investment bank Houlihan Lokey.
The IPL’s value has increased more than 11 per cent year-on-year to $20.6bn following the takeovers of franchises Royal Challengers Bengaluru for a record $1.78bn and Rajasthan Royals for $1.65bn, the report said.
The leading T20 cricket league’s brand value increased 10.3 per cent to $4.3bn, up more than $1.1bn since 2023, it added.
It follows the sale of stakes in all eight franchises in English cricket’s The Hundred last year in a process that valued the competition at close to £1bn.
“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,” said Harsh Talikoti, a director in Houlihan Lokey’s financial and valuation advisory business.
“What the market confirmed this year, through landmark franchise transactions, is the extent to which the league can attract precisely the calibre of global, institutional, and strategic capital it was built to draw.
“Franchise valuations have reached new highs, private capital participation has accelerated, and the league’s commercial ecosystem continues to diversify.”
Royal Challengers Bengaluru and Rajasthan Royals sales
Royal Challengers Bengaluru were acquired by a consortium that included Blackstone, Bolt Ventures, Aditya Birla Group, and the Times of India Group, while Rajasthan Royals were bought by the Mittal family and billionaire Adar Poonawalla.
“The IPL represents a unique convergence of sport, media, and consumer opportunity, underpinned by strong revenue visibility, disciplined cost structures, and an expanding global audience,” Talikoti added.
“These latest transactions further demonstrate the confidence investors continue to place in the long-term value creation opportunity.”
The Mittal family have since emerged as bidders for minority stake in Liverpool FC as part of a group fronted by Amit Bhatia, Lakshmi Mittal’s son-in-law and, until recently, co-owner of QPR.