IPL Teams Valued at $17 Billion, Outpricing NBA on Revenue

India's ten IPL franchises carry a combined value of about $17 billion, and they trade at a richer multiple of revenue than NBA teams, according to Sportico's first IPL valuation study.

Sportico puts the average franchise at $1.7 billion against estimated revenue of $74.4 million for the 2026 season. That works out to a valuation-to-revenue multiple of 22.9, compared with 14.6 for the NBA. The findings, published Oct. 30, highlight the premium investors attach to shared league income and future commercial growth.

Which IPL teams are worth the most?

Mumbai Indians lead the table at $2.1 billion. Royal Challengers Bengaluru follow at $1.85 billion, with Chennai Super Kings third at $1.75 billion.

Lucknow Super Giants sit at the bottom, worth an estimated $1.5 billion. The $600 million gap means Mumbai's valuation runs 40 percent higher than Lucknow's — a relatively narrow spread by global sports standards.

How does revenue sharing support the valuations?

Central distributions account for about 75 percent of average franchise revenue, Sportico estimates. The Board of Control for Cricket in India (BCCI) retains half the media rights fees after production costs. Roughly 90 percent of the remaining amount, along with other league earnings, gets shared equally among teams; 10 percent is linked to performance.

That structure explains why valuations cluster tightly. Owners tap the league's collective commercial earnings while building their own fan bases and sponsorship partnerships. A franchise's financial appeal extends well beyond its position in the points table.

The broadcast contract underpins the whole system. BCCI's 2022 auction set the cumulative value of rights for the 2023–27 seasons at Rs 48,390.32 crore. A multi-season deal gives investors far greater revenue visibility than a business that depends on fresh sponsorship sales or ticket receipts every year.

Why do investors want in?

Scarcity does much of the work. In an accompanying podcast, Sportico describes a model that combines a short season and structured revenue sharing with just 10 franchises. Limited ownership supply can prop up prices even when current revenue looks modest.

The announced RCB transaction offers a concrete read on appetite. United Spirits agreed in March to sell its entire stake in Royal Challengers Sports Private Limited for Rs 16,660 crore to a consortium of Aditya Birla Group, Times of India Group, Bolt Ventures and Blackstone. The company owns RCB's IPL and Women's Premier League teams.

Why the RCB price needs careful handling?

The deal also explains why headline prices demand caution. It covers the company operating both the men's and women's teams, while Sportico publishes enterprise value estimates. Any comparison must adjust for the assets included and the treatment of cash and debt before anyone can claim a change in value.

The transaction price therefore reflects ownership of two businesses, not a standalone valuation of the men's IPL franchise. Investors pricing the next IPL stake sale will need to strip out the Women's Premier League asset — and the $17 billion league-wide figure suggests there's plenty of growth already baked into the numbers.