Cricket's Indian Premier League value surges to $18.5bn: report
The world's richest cricket tournament has been a top revenue earner for the Board of Control for Cricket in India (BCCI) and in 2020 was estimated to generate more than $11 billion a year for the Indian economy.
According to US investment bank Houlihan Lokey, which has valued several sports franchises around the world, the brand value of the 10-team T20 franchise tournament has seen a sharp rise of 13.8 percent to $3.9 billion over the past year.
Bengaluru, who along with star player Virat Kohli won their first IPL title this year, have overtaken five-time winners Chennai Super Kings and Mumbai Indians to achieve a brand value of $269 million.
IPL's Bengaluru pledge financial aid for victims of crowd surge
Mumbai is second with $242 million, followed by Chennai at $235 million.
The Houlihan Lokey report called the IPL 'a global phenomenon' that has become more than just a cricket league.
'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,' Harsh Talikoti from Houlihan Lokey, said in a statement.
'The league's ability to attract global investors and sponsors reflects its status as a premier sports property with enduring appeal.'
Bengaluru beat Punjab Kings for the title at the world's biggest cricket stadium in Ahmedabad in June to conclude the 18th edition of the league.
The report said the 2025 final had more than 678 million views on the official streaming platform JioHotstar, surpassing the India-Pakistan clash during the Champions Trophy in February this year.
The IPL, which is broadcast around the world and features top international stars such as Australia's Pat Cummins and England's Jos Buttler, mixes sport and showbusiness in a glitzy format, with a number of teams fronted by Bollywood movie superstars.
Since it launched in 2008 it has inspired a range of other franchise-based leagues in India in sports as diverse as boxing, badminton, poker and kabaddi, and spawned copycat cricket tournaments elsewhere.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
21 minutes ago
- Business Recorder
India bonds slip as Modi's tax cut proposals fuel fiscal worries
MUMBAI: Indian government bonds fell on Monday as wary traders priced in a potential fiscal strain from Prime Minister Narendra Modi's proposed deepest tax cuts in eight years. The benchmark 10-year bond yield was at 6.4559% as of 11:00 a.m. IST. It ended at 6.4003% on Thursday. Bond yields move inversely to prices. Modi's government on Friday announced sweeping changes to the complex goods and services tax regime, which will make daily essentials and electronics cheaper from October. The federal government will propose a two-rate structure of 5% and 18%, doing away with the 12% and 28% tax that was imposed on some items, a government official said on Friday. However, the plan comes with costs, given that the GST is a major revenue generator. Santanu Sengupta, chief India economist at Goldman Sachs, said that early data for the fiscal year show that income tax receipts are down about 0.5% year-over-year for the fiscal year until June 2025. If the changes are introduced, the government may have to curb spending to stay on track with its 4.4% of GDP fiscal deficit target, Sengupta added. Meanwhile, a planned visit by US trade negotiators to New Delhi from August 25-29 has been called off, delaying talks on a proposed trade agreement and dashing hopes of relief from additional US tariffs on Indian goods from August 27. 'We're cautiously watching any developments on trade globally to see how Trump's tariffs play out for India,' a trader at a private bank said.
Business Recorder
3 hours ago
- Business Recorder
India's stock benchmarks set to open higher on easing oil woes, GST reforms
India's equity benchmarks are set to open higher on Monday, buoyed by cooling Russian oil supply concerns after a meeting between the U.S. and Russian Presidents and New Delhi's proposed goods and services tax reforms. Gift Nifty futures were trading at 24,984 as of 8:46 a.m. IST, indicating that the Nifty 50 will open about 1.4% above Thursday's close of 24,631.3. Indian markets were closed on Friday for a holiday. Following his meeting with Russia's Vladimir Putin in Alaska on Friday, U.S. President Donald Trump appeared more aligned with Moscow on seeking a Ukraine peace deal instead of a ceasefire first. Trump will meet Ukrainian President Volodymyr Zelenskiy and European leaders on Monday to hammer out details of possible security guarantees for Kyiv, though actual proposals are vague as yet. Oil prices slipped after the U.S. refrained from imposing new measures to curb Russian oil exports, following Trump-Putin's Friday meeting. Meanwhile, Trump said on Friday he did not need to consider retaliatory tariffs yet on countries buying Russian oil, such as China, but might 'in two or three weeks', easing fears of supply disruption. China, the world's biggest oil importer, is the largest buyer of Russian oil, followed by India. A fall in prices is positive for importers of the commodity, such as India. Separately, shares of car makers could rise after Reuters reported the government proposed lowering the GST on small cars to 18% from 28%. Alongside easing worries over Russian oil imports, the Indian government's announcement of sweeping tax reforms to boost the economy amid the trade conflict with the U.S. also boosted sentiment, analysts said. The S&P Global's ratings upgrade, reiterating India's macro stability, is also likely to aid risk sentiment. Foreign portfolio investors (FPI) offloaded Indian stocks worth 19.27 billion rupees ($220.2 million) on Thursday, while domestic institutional investors (DII) purchased stocks worth 38.96 billion rupees, taking their buying streak to 29 sessions.
Business Recorder
3 hours ago
- Business Recorder
Indian rupee to receive a risk boost, but US-India trade discord overhang persists
MUMBAI: The Indian rupee is poised to open higher on Monday, supported by a likely rally in local equities after Prime Minister Narendra Modi's sweeping tax reforms to boost growth, though persistent U.S.–India trade tensions should cap the advance. The 1-month non-deliverable forward indicated the rupee will open in the 87.50-87.52 range versus the U.S. dollar, compared with 87.55 on Thursday. Indian financial markets were closed on Friday. Gift Nifty futures indicated that the Nifty 50 will open more than 1% higher after India announced sweeping tax reforms to lift the economy in the face of a trade conflict with Washington. The rupee will 'see a bit of lift from equity, however it's hard to see it doing much with the U.S.–India trade cloud hanging overhead,' said a Mumbai-based FX trader. 'The downside (on dollar/rupee) is capped, and any dip will likely be faded.' Trump-Putin meeting The outcome of the weekend's Trump–Putin meeting did not evoke much of a reaction from Asian equities and currencies. U.S. President Donald Trump has said a full-fledged peace deal for Ukraine remained the ultimate aim rather than a mere ceasefire. After talks with Russian President Vladimir Putin, Trump said he would delay new tariffs on countries like China that continue purchasing Russian oil. Absent from his remarks was any reference to India, which remains on track to face an additional 25% duty starting August 27. Adding to the pressure on the rupee, Washington has scrapped a planned August 25–29 visit by trade negotiators to New Delhi, shelving discussions on a potential trade deal and extinguishing hopes of relief from the fresh tariffs on Indian goods.
