Royal Challengers Bengaluru (RCB) have retained their position as the most valuable franchise in the Indian Premier League (IPL), with a brand value of US$312 million, as the league’s overall business value crossed the US$20 billion mark for the first time.
According to the latest report by US-based global investment bank Houlihan Lokey, RCB’s brand value has risen by 16 per cent, from US$269 million last year to US$312 million in 2026. In doing so, RCB became the first cricket franchise to cross the US$300 million brand value milestone.
The report also estimated the IPL’s overall business value at US$20.6 billion, up 11.4 per cent from US$18.5 billion in 2025. It is the second consecutive year that the league has recorded double-digit growth.
“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 in Houlihan Lokey’s Financial and Valuation Advisory business.
RCB’s rise comes just months after the franchise changed ownership. A consortium comprising Blackstone, Bolt Ventures, the Aditya Birla Group and the Times of India Group acquired the team earlier this year at a reported valuation of US$1.78 billion.
Mumbai Indians retained second place with a brand value of US$264 million, reflecting a 9.1 per cent increase from US$242 million in 2025. Kolkata Knight Riders ranked third at US$245 million, followed closely by Chennai Super Kings, whose brand value rose to US$244 million.
“We were actively engaged in the processes for both the RCB and Rajasthan Royals, and both are great assets,” said Satyan Gajwani, co-owner of RCB and Chairman at Times Internet.
“Across the league, however, RCB’s fanbase intensity and connection are unparalleled, which made this a special opportunity. Overall, we are strong believers in the growth potential of cricket as a global sport, and exposure at both the media level and the IP level fits that thesis.”
Punjab Kings co-owner Ness Wadia highlighted how IPL franchises are increasingly being viewed as long-term sports businesses rather than seasonal cricket teams.
“The way people look at IPL franchises has changed completely. They’re no longer seen as cricket teams that play for two months every year. They’re increasingly being viewed as long-term sports and entertainment businesses, and I think that’s exactly how they should be viewed.”
He added:
“The numbers speak for themselves. In less than two months, the IPL delivers extraordinary audiences, sponsorship value and fan engagement. On a per-match basis, its media rights already compare with some of the biggest leagues in world sport. That gives owners the confidence to invest for the long term rather than simply think about the next season.”
Punjab Kings are ranked seventh with a brand value of US$158 million, representing a 12.1 per cent year-on-year increase.
Among the remaining franchises, Sunrisers Hyderabad are fifth with a brand value of US$168 million, followed by Rajasthan Royals at US$161 million. The Royals, recently acquired by the Mittal family and Adar Poonawalla at a reported valuation of US$1.65 billion, registered a 10.3 per cent increase in brand value.
Gujarat Titans occupy eighth place with a brand value of US$157 million, followed by Delhi Capitals at US$156 million. Lucknow Super Giants complete the list in tenth place with a brand value of US$122 million, unchanged from last year.
