Royal Challengers Bengaluru’s captain Rajat Patidar and teammates celebrate with the trophy after the team’s win in the Indian Premier League 2025 final match against Punjab Kings, at Narendra Modi Stadium in Ahmedabad on Tuesday.
| Photo Credit:
Surjeet Yadav/ANI

Indian Premier League’s enterprise valuation rose by 12.9 per cent to $18.5 billion, while the stand-alone brand value of the IPL has increased by 13.8 per cent to $3.9 billion, according to the latest study released by Houlihan Lokey, Inc., the global investment bank. Royal Challengers Bengaluru surpassed Chennai Super Kings to emerge as the most valued IPL franchise at $269 million (up from $227 million), as it clinched its maiden IPL in 2025, ending a 17-year wait.

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 per cent increase over the previous cycle. Meanwhile, the Tata Group extended its title-sponsorship commitment through 2028 in a lucrative five-year deal worth $300 million (₹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 Harsh Talikoti, Director, Financial and Valuation Advisory at Houlihan Lokey.

Record viewership and rising franchises 

“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,” he added.

Meanwhile, Mumbai Indians climbed to second place (from fourth last year) with a valuation of $242 million ($204 million in 2024). Chennai Super Kings (CSK) slipped to third with a brand value of $235 million, up only marginally from last year ($231 million), following a disappointing season. “Punjab Kings (PBKS) recorded the highest year-on-year growth, registering a 39.6 per cent increase in brand value over 2024, followed closely by Lucknow Super Giants, which saw a rise of more than 34 per cent,” the report noted.

The IPL 2025 witnessed staggering viewership across both digital and television platforms. During the opening weekend (22–24 March), JioHotstar recorded 1,370 million views (35% YoY growth), with a peak of 340 million concurrent viewers and 21,860 million minutes watched. Simultaneously, Star Sports drew 253 million unique TV viewers (up 14% YoY), resulting in a combined 49,560 million 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 67.8 crore views on the official streaming platform JioHotstar, higher than the India-Pakistan clash during the ICC Championship in February this year.

Satish Menon, CEO of Punjab Kings, “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.”

Meanwhile, Kolkata Knight Riders (KKR), which won the 2024 IPL season, secured the fourth place in brand value with $227 million. With a brand value of $154.0 million, Sunrisers Hyderabad (SRH) ranks fifth on the list, while Delhi Capitals (DC) is ranked sixth with a brand value of $152.0 million. Rajasthan Royals (RR) ranked seventh with $146.0 million, and Gujarat Titans (GT) secured eighth place with $142.0 million. Meanwhile, Lucknow Super Giants, at 10th, has a brand value of US$122.0 million.

Published on July 8, 2025