The Indian Premier League (IPL) posted an 11.4% year-on-year increase in business value to reach $20.6 billion after the 2026 season, becoming the second-most valuable sporting league in the world behind the National Football League (NFL) in the US. According to Houlihan Lokey’s IPL Brand Valuation Study, the marquee T20 cricket league’s standalone brand value rose by 10.3% to $4.3 billion, adding over $1.1 billion in value since 2023.
Among the league’s 10 franchises, the Royal Challengers Bengaluru (RCB) is now the most valuable, with its brand value rising by 16% to reach $312 million this year from $269 million in 2025. Despite a dismal season in 2026, Mumbai Indians retained its second place with a brand value of $264 million. Kolkata Knight Riders (KKR) climbed to the third place at $245 million, ahead of Chennai Super Kings (CSK), which dropped to the fourth place at $244 million. Sunrisers Hyderabad, with a brand value of $168 million, was ranked fifth.
The report attributed RCB’s rise to a combination of on-field success and commercial momentum. The team’s championship victories have changed its commercial positioning, while its sale to an Aditya Birla Group-led consortium for $1.78 billion further strengthened investor confidence in the RCB brand. Further, Virat Kohli’s commercial influence and success in the men’s and women’s competitions have enabled the franchise to evolve into a year-round commercial property.
Brand Value Drivers
The report also notes that despite Mumbai Indians finishing ninth in this season, the franchise’s brand value rose by 9% on the back of its longstanding commercial partnerships, stable ownership under Reliance Industries and strong brand equity. KKR’s brand value rose 7.9% this year, taking it ahead of CSK for the first time, thanks to its commercial momentum after the 2024 win, Shah Rukh Khan’s star power and its entertainment-driven identity that continues to attract advertisers. CSK recorded the slowest growth among the leading franchises, with a mere 3.8% rise in brand value. Houlihan Lokey attributes this to MS Dhoni’s reduced on-field presence and a second consecutive poor performance.
Teenage batting sensation Vaibhav Sooryavanshi proved to be a major commercial driver for Rajasthan Royals in sixth place, up from seven last year. The report notes that Sooryavanshi’s breakout season expanded the franchise’s appeal beyond the traditional fan base, creating fresh sponsorship opportunities and boosting audience engagement. Further, the acquisition of the franchise by the Mittal family and Adar Poonawala at a reported $1.65 billion was also significant in driving its brand value growth.
Houlihan Lokey observed that the acquisition of RCB by the Aditya Birla Group-led consortium at a reported valuation of $1.78 billion was the most expensive IPL franchise transaction in history. “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,” observed Harsh Talikoti, director in Houlihan Lokey’s financial and valuation advisory business. He noted that the transactions in 2026 underscore the confidence investors continue to place in the IPL.
Institutional Capital
IPL reach and viewership continue to reach record highs, according to broadcaster JioStar. The 2026 season delivered a cumulative reach of 1.06 billion screens, and viewership rose by 7% year-on-year.