RCB top scorer with $312 mn brand value as IPL grows bigger

Mumbai: Business valuations of the Indian Premier League (IPL) have risen 11.4% year-on-year to $20.6 billion even as Royal Challengers Bengaluru (RCB) became the first IPL franchise to cross the $300-million brand value mark, reaching $312 million, showed the 2026 IPL Brand Valuation Study published on Wednesday.

The report, by global investment bank and M&A adviser Houlihan Lokey, pegged the standalone brand value of the IPL at $4.3 billion, up 10.3% from a year earlier.

It said IPL has recorded a second consecutive year of double-digit business value growth, adding more than $1.1 billion in brand value since 2023. It also noted that, on a per-match basis, only the National Football League (NFL) of the US ranks ahead of IPL globally.

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The study highlighted two landmark franchise M&A transactions during the year. RCB was bought by a consortium comprising Aditya Birla Group, The Times of India (publishers of The Economic Times), Bolt Ventures and a Blackstone fund for $1.78 billion - the highest valuation for a single IPL franchise since the tournament's inaugural run in 2008.

Meanwhile, Rajasthan Royals was acquired by steel magnate Lakshmi Mittal's family and Serum Institute of India CEO Adar Poonawalla at a valuation of $1.65 billion.

According to the report, the deals reflect growing institutional investor confidence in IPL, driven by the league's audience scale, predictable revenue streams and long-term commercial growth potential.

"We were actively engaged in the processes for both the RCB and Rajasthan Royals, and both are great assets," said Satyan Gajwani, co-owner, RCB, and chairman, Times Internet. "Across the league, however, RCB's fanbase intensity and connection are unparalleled, which made this a special opportunity."

Gajwani said IPL has the attention of the NFL with a fraction of its monetisation. As Indian per-capita income rises and connected TV penetration increases, Gajwani expects monetisation to match up to attention.

In the franchise rankings, RCB retained the top position with a brand value of $312 million, up 16% from $269 million in 2025, becoming the first cricket team to cross the $300 million mark. Mumbai Indians ranked second at $264 million, followed by Kolkata Knight Riders at $245 million and Chennai Super Kings at $244 million.

"Cricket's evolution into a globally owned, institutionally backed asset class has accelerated further in 2026, with the IPL continuing to redefine the global sports landscape," said Harsh Talikoti, director, Houlihan Lokey's financial and valuation advisory business.