Mumbai Indians lead IPL valuations at $2.1 billion, RCB worth more than Shah Rukh Khan's KKR

Dubai: Mumbai Indians (MI) have emerged as the Indian Premier League’s (IPL) most valuable franchise, with an enterprise valuation of $2.1 billion (Dh 7.71 billion), according to Sportico, underlining the remarkable financial growth of the T20 competition since its launch in 2008.

The franchise, owned by Reliance Industries chairman Mukesh Ambani, tops Sportico’s inaugural IPL valuations, which put the average value of a team at $1.7 billion (Dh 6.24 billion). Every franchise is valued at least $1.5 billion, with Shah Rukh Khan’s Kolkata Knight Riders (KKR) estimated at $1.73 billion (Dh 6.35 billion) and Lucknow Super Giants (LSG) at $1.5 billion (Dh 5.50 billion).

The figures reflect a dramatic rise from the league’s first season, when its original eight franchises were sold for a combined $724 million (Dh 2.65 billion). Mumbai Indians were bought for $112 million (Dh 411.32 million), while Rajasthan Royals cost $67 million (Dh 246.05 million).

Two major ownership deals in 2026 have further highlighted investor appetite. Royal Challengers Bengaluru (RCB) were sold for $1.78 billion (Dh 6.53 billion) to a consortium involving Aditya Birla Group, Times of India Group, Bolt Ventures and Blackstone. The deal includes the men’s IPL franchise and its Women’s Premier League team.

In Sportico’s latest valuations, RCB are valued at $1.85 billion (Dh 6.79 billion) while 5-time IPL champions Chennai Super Kings (CSK) are third most valuable franchise with $1.75 billion (Dh 6.42 billion) price tag. Delhi Capitals are valued at $1.70 billion (Dh 6.24 billion).

Rajasthan Royals were acquired for approximately $1.65 billion (Dh 6.05 billion) by a consortium led by the Mittal family, with Adar Poonawalla also involved. Both transactions represent a significant jump from the $900 million (Dh 3.30 billion) valuation attached to Gujarat Titans when Torrent Group bought a 67 per cent stake last year.

The IPL’s financial model is a major factor behind the valuations. Around three-quarters of franchise revenue comes from central distributions, largely supported by the league’s $6.2 billion (Dh 22.76 billion) broadcast-rights package for the 2023-27 cycle. Teams also earn from sponsorships and ticket sales.

Average franchise revenue reached an estimated $74.4 million (Dh 273.23 million) in 2026, while the league’s revenue multiple averaged 22.9, higher than those of the NBA and NFL.

Mumbai’s five IPL titles and vast fan base strengthen its position, while limited franchise availability and India’s enormous cricket audience continue to attract investors.