The Indian Premier League cricket tournament’s business value has climbed to $20.6 billion, up 11.4% year over year, according to Houlihan Lokey’s 2026 IPL Valuation Study released Wednesday, as record-setting sales of Royal Challengers Bengaluru and Rajasthan Royals reset franchise pricing across the league.
The league’s stand-alone brand value rose 10.3% to $4.3 billion, marking a second consecutive year of double-digit growth for both metrics. The report placed the 2026 figures in historical context: the IPL’s business value stood at $15.4 billion in 2023, $16.4 billion in 2024 and $18.5 billion in 2025. On a per-match basis, Houlihan Lokey noted, only the NFL ranks ahead of the IPL globally.
The 2026 season’s defining commercial event was the sale of two franchises. Royal Challengers Bengaluru was acquired in March by a consortium including the Aditya Birla Group, the Times of India Group, David Blitzer’s Bolt Ventures and Blackstone’s BXPE for $1.78 billion, the most expensive single IPL franchise transaction on record. The deal, in an all-cash structure, came after seller United Spirits Limited had targeted $2 billion. Rajasthan Royals followed in May, sold to the Mittal family and Serum Institute of India CEO Adar Poonawalla for $1.65 billion, after an initial agreement with a U.S.-based consortium led by Kal Somani collapsed during exclusivity. Together the two deals total $3.43 billion.
