Houlihan Lokey has published its IPL Brand Valuation Study for 2025, which finds the overall value of the Indian Premier League (IPL) has increased 12.9% to $18.5 billion. The league's independent brand value also increased 13.8% to $3.9 billion, indicating the growing business vitality of the Indian Premier League (IPL). This was aided by a massive leap in sponsorship agreements. The BCCI sale of four associate sponsorships, My11Circle, Angel One, RuPay, and CEAT, raked in ₹1,485 crore, which is 25% higher than the previous cycle. The Tata Group also renewed its title sponsorship in a $300 million (₹2,500 crore) agreement up to 2028. RCB Overtakes CSK as Most Valuable IPL Franchise Image Source: Screen Grab (Houlihan Lokey) One of the major highlights of the research by Houlihan Lokey is Royal Challengers Bengaluru (RCB) being announced as the most valuable IPL franchise post the conclusion of the 18th edition. Following their much-awaited maiden IPL title in 2025, the Bengaluru based franchise registered a rise in their brand value from $227 million to $269 million, surpassing Chennai Super Kings (CSK). Five-time champions Mumbai Indians (MI) held the second spot with a value of $242 million, improving from fourth position in 2024. Their on-field stability and brand strength assisted in keeping them in the top position. Another five-time champions, Chennai Super Kings (CSK), the previous year's leader in the list, dropped to third with a minor brand value gain of $235 million. Their poor performance and mid-season captaincy switch (from Ruturaj Gaikwad to MS Dhoni) affected their development. Also Read | IPL Tune Copied? Here’s the Real Story Behind the Iconic Music Punjab Kings Leads in Brand Growth Punjab Kings (PBKS) jumped the most, recording a close to 40% growth in brand value, which now stands at $141 million. Their final appearance performance under new skipper Shreyas Iyer made them more popular. Lucknow Super Giants (LSG) also recorded robust growth with a 34% growth in brand value. Other Team Rankings Kolkata Knight Riders (KKR) in fourth with $227 million. Although they won the title in 2024, their momentum was lost in 2025 partially because of the departure of Shreyas Iyer. Sunrisers Hyderabad (SRH) was fifth at $154 million. With their star-studded team, everyone expected a lot but not so consistent performance. Delhi Capitals (DC) was second at $152 million, and Rajasthan Royals (RR) was seventh at $146 million, thanks to young star Vaibhav Suryavanshi. Gujarat Titans (GT) worth $142 million, while Lucknow Super Giants (LSG) finished the list at $122 million. Also Read | Section 302 Offence? Yograj Criticises Iyer’s IPL Final Shot Record Viewership in 2025 Season of IPL IPL 2025 witnessed record viewership figures: JioHotstar reported 1,370 million views in the first weekend itself, with a 35% YoY increase. Peak concurrent viewers reached 340 million with the total watch time of 21,860 million minutes. StarSports gained 253 million unique TV viewers, an increase of 14%. RCB vs PBKS IPL 2025 Final broke all previous records with a viewership of over 678 million, even surpassing the India vs Pakistan ICC Champions Trophy encounter earlier in the year. Market Experts' View on IPL's Business Model Harsh Talikoti, the Director at Houlihan Lokey said: "IPL remains a growing brand as a sports powerhouse. Its blend of sport, entertainment, and commercial appeal has created a unique and valuable property." Satish Menon, the CEO of PBKS, stated that IPL is not merely a cricket league, it's a media-sport enterprise with several revenue avenues. He stated that viewing the team as a brand has led to new partnerships and content channels. Also Read | Full List of Award Winners in IPL 2025 IPL Set to Help Cricket Grow Worldwide With cricket becoming part of the 2028 Olympics in Los Angeles and the 2024 T20 World Cup performing well in the US, the IPL is sure to have a pivotal role in taking cricket to the entire globe. The report states that the upcoming seasons of IPL may be longer. This would make it more profitable and provide more opportunities for fans and sponsors to remain engaged. Nevertheless, a few hurdle are in place, player wages are increasing, there is plenty of web content, and supporters may become weary about watching the same commercials. Despite these problems, the IPL's robust fan base, astute business model, and team development strategy make it ahead of the majority of other sports leagues. About Houlihan Lokey Houlihan Lokey is an international investment bank providing financial advisory. It is well known in M&A, restructuring, and valuations. The company has ranked No. 1 consistently in several global financial rankings for more than a decade.