The Indian Premier League has solidified its status as one of the world’s premier sporting assets, with its overall enterprise valuation rising 12.9% year-on-year to $18.5 billion (Rs 1.56 trillion) in 2025, a study released by global investment bank Houlihan Lokey estimates.
The league’s standalone brand value also grew by 13.8% to $3.9bn (₹32,721 crore), driven by record viewership, strong advertising revenues, and growing investor interest.
In a major shift, Royal Challengers Bengaluru (RCB) dethroned Chennai Super Kings (CSK) to become the most valuable franchise following their maiden title win this season.
RCB’s brand value jumped to $269 million from $227m in 2024. Mumbai Indians followed at $242m, while CSK dropped to third at $235m, impacted by the franchise’s last-place finish in IPL 2025.
Punjab Kings saw the biggest surge, with a 39.6% increase to $141m due to their runner-up finish and successful digital and auction strategies.
Punjab Kings CEO Satish Menon noted: “We now operate with the mindset of a media-sport brand with multiple revenue verticals, not just a cricket team — and that’s where real profitability lies. Over time, we have built a sustainable sports business — one that spans multiple leagues, drives platform-level content, attracts global brands, and creates IPs that outlast a season.”
Kolkata Knight Riders (KKR), meanwhile, which won the 2024 IPL season, secured the fourth place in brand value with $227m. With a brand value of $154m, Sunrisers Hyderabad (SRH) ranks fifth on the list, while Delhi Capitals (DC) is ranked sixth with a brand value of $152m. Rajasthan Royals (RR) ranked seventh with $146m, and Gujarat Titans (GT) secured eighth place with $142m. Lucknow Super Giants, at 10th, has a brand value of $122m.
Advertising revenues crossed $600m this season, up 50%, fuelled by consolidated rights, immersive ad formats, and short-form content.
Reflecting IPL’s growing appeal, the report noted that the Board of Control for Cricket in India’s sale of four associate-sponsor slots — My11Circle, Angel One, RuPay, and CEAT — generated ₹1,485 crores, a 25% increase over the previous cycle. Additionally, the Tata Group extended its title-sponsorship commitment through 2028 in a lucrative five-year deal worth $300m (₹2,500 crore).
“The IPL continues to set benchmarks in sports business. Franchise valuations have soared, media rights deals have reached record highs, and brand partnerships have diversified across sectors. The league’s ability to attract global investors and sponsors reflects its status as a premier sports property with enduring appeal. In summary, the IPL represents a high-yield multi-asset class with diversified risks and a catalyst for cricket’s global transformation,” said Houlihan Lokey director, Financial and Valuation Advisory, Harsh Talikoti.
“By blending sport, entertainment, and commerce, it has redefined how cricket is consumed and commercialised. Its growth trajectory, led by OTT penetration, blend of youthful and diverse audiences, global awareness, and asset creation (IP deals, women’s league, new franchisees) is strong. As the sport continues to expand into new territories, the IPL’s blueprint will remain central to shaping the future of cricket on the world stage,” Talikoti added.
Despite a brief mid-season suspension, IPL 2025 logged record-breaking viewership across both digital and television platforms. During the opening weekend (22–24 March), JioHotstar recorded 1,370m views (35% YoY growth), with a peak of 340m concurrent viewers and 21,860m minutes watched. Simultaneously, Star Sports drew 253m unique TV viewers (up 14% YoY), resulting in a combined 49,560m minutes of watch time.
The season reached a historic crescendo with a guaranteed first-time champion, as RCB triumphed over PBKS in a final that shattered viewership records. The IPL 2025 final recorded more than 678m views on the official streaming platform JioHotstar, higher than the India-Pakistan clash during the ICC Championship in February this year.
The report also highlighted the IPL’s shift towards a global media-sports ecosystem, with franchises expanding into other leagues.
