The business value of the Indian Premier League (IPL) reached $20.6 billion in 2026 according to US-based investment bank Houlihan Lokey, while some other reports round this figure to $20 billion. This figure represents a significant milestone for the cricket competition, which was launched in 2008.
Houlihan Lokey reported that the league’s business value increased by more than 11% over the past year, while other estimates placed the growth at 10.3% or 11%. The IPL achieved double-digit business value growth for the second consecutive year.
Record franchise transactions
Franchise valuations hit new highs in 2026, driven by two major transactions. In March, a consortium comprising Blackstone, Bolt Ventures, Aditya Birla Group, and Times of India Group acquired Royal Challengers Bengaluru for $1.78 billion. This deal stands as the most expensive franchise transaction in IPL history.
In May, the Mittal family and Adar Poonawalla acquired the Rajasthan Royals franchise for $1.65 billion. Royal Challengers Bengaluru, home to former India captain Virat Kohli and reportedly the IPL champion for the past two seasons, remains the league's most valuable franchise with a brand value of $312 million.
Brand value and economic impact
The IPL’s stand-alone brand value rose 10.3% to $4.3 billion. On a per-match basis, only the National Football League (NFL) ranks ahead of the IPL globally, according to Houlihan Lokey. The league was previously estimated to generate more than $11 billion a year for the Indian economy in 2020.
Harsh Talikoti, a director at Houlihan Lokey, stated that these latest transactions demonstrate the confidence investors continue to place in the long-term value creation opportunity. He noted that cricket’s evolution into a globally owned, institutionally backed asset class has accelerated further in 2026.
Houlihan Lokey released its '2026 IPL Brand Valuation Study' on Wednesday. The IPL operates as a 10-team competition.