RCB dethrones CSK as most valuable IPL franchise; league’s value jumps to $18.5 billion | Mint

Mumbai: The Indian Premier League’s (IPL) business valuation increased 12.9% year-on-year to $18.5 billion ( ₹1.56 trillion) in 2025, cementing its place among the world’s most valuable sporting leagues, according to the latest brand valuation study by Houlihan Lokey. The IPL’s standalone brand value jumped 13.8% to $3.9 billion ( ₹32,721 crore), buoyed by record viewership, rising ad revenues, and robust investor interest.

In a significant reshuffling of franchise rankings, Royal Challengers Bengaluru (RCB) dethroned Chennai Super Kings (CSK) to become the most valuable IPL team following their maiden championship win this season.

RCB’s brand value rose to $269 million from $227 million in 2024. Mumbai Indians (MI) moved to second place at $242 million, while CSK slipped to third at $235 million, hurt by a bottom-of-the-table finish.

Punjab Kings (PBKS) was the biggest gainer, registering a 39.6% jump in brand value to $141 million owing to a runner-up finish, aggressive auction strategy, and viral digital campaigns.

“The IPL continues to set benchmarks in sports business,” said Harsh Talikoti, Director, financial and valuation advisory at Houlihan Lokey. “It’s a high-yield, multi-asset class with diversified risks, and a catalyst for cricket’s global transformation.”

Billion-dollar ecosystem

The report said the IPL was a rare sports asset that combined guaranteed cash flows with capital-light operations. Franchise revenues, underwritten by central media and sponsorship deals, are typically locked in before a ball is bowled. Teams operate with minimal infrastructure overheads, thanks to BCCI-managed stadiums and a strict salary cap of ₹120 crore, ensuring high returns on capital invested.

This year advertising revenues crossed $600 million (around ₹5,000 crore), marking a 50% jump over last year, driven by consolidated rights, brand experimentation, and immersive ad formats. The BCCI’s sale of four associate sponsorships to My11Circle, Angel One, RuPay, and CEAT generated ₹1,485 crore, a 25% increase from the previous cycle. Meanwhile, Tata renewed its title sponsorship in a five-year deal worth $300 million ( ₹2,500 crore) through to 2028.

Record-breaking viewership

Despite a temporary mid-season suspension owing to regional tensions, IPL 2025 rebounded to close with impressive viewership numbers. On the opening weekend alone (22-24 March), JioHotstar logged 1.37 billion views, with 340 million concurrent viewers and 21.8 billion minutes of watch time. Star Sports drew 253 million unique TV viewers, taking the total watch time across platforms to 49.5 billion minutes.

The final match between RCB and PBKS on June 3 clocked more than 678 million views, surpassing even the India-Pakistan clash in the ICC Champions Trophy earlier this year and making it the most-watched T20 cricket match in history.

A maturing global asset

The report also highlighted the IPL’s growing stature as a global sports media business. With rising interest from overseas investors—evidenced by stake sales in franchises such as Gujarat Titans and cross-league expansion plans—many teams are moving towards a multi-league model. PBKS, for instance, also owns Saint Lucia Kings in the Caribbean Premier League and has built a digital-first strategy to amplify fan engagement.

“We now operate with the mindset of a media-sport brand—not just a cricket team,” said Satish Menon, CEO, PBKS. “Our focus has been to build a sustainable sports business that spans leagues, platforms and fan cultures.”

Outlook: Longer seasons, deeper monetisation

With cricket set to debut at the 2028 LA Olympics and the success of the 2024 ICC T20 World Cup in the US, the IPL is expected to play a pivotal role in globalising the sport. The report suggested that IPL seasons may become longer, allowing for higher monetisation and more touchpoints for fans and sponsors.

Challenges around salary inflation, digital saturation, and category fatigue remain, but the IPL’s core proposition—mass appeal, structured monetisation, and franchise scalability—continues to deliver unmatched value in the sporting world, it said.