Kotak puts IPL at $18B

Kotak Mutual Fund says the Indian Premier League is now worth about $18 billion, putting the cricket tournament in the same financial conversation as major global sports properties. (economictimes.indiatimes.com) Kotak’s note pegs the valuation at roughly $18 billion for fiscal year 2025 and says franchises get more than 70% of their revenue from centrally shared media rights and sponsorship pools. (aninews.in) That revenue base starts with a five-year media-rights deal worth ₹48,390 crore for the 2023-2027 cycle, split between television and digital packages. (equentis.com) The Board of Control for Cricket in India also locked in Tata Group as title sponsor for 2024 through 2028 in a ₹2,500 crore deal that the league said was its highest-ever sponsorship amount. (iplt20.com) Kotak says that mix of contracted central income makes teams look less like traditional sports clubs that depend heavily on ticket sales and more like assets with recurring cash flow. (newkerala.com) The league’s scale now runs well beyond a few spring matches. The 2025 season alone was scheduled from March 22 to May 25, with 74 matches across 13 venues. (iplt20.com) Those economics are also showing up in cricket’s governing body. The Board of Control for Cricket in India reported ₹9,741.7 crore in revenue for fiscal 2023-24, with the Indian Premier League contributing ₹5,761 crore, or 59% of the total. (timesofindia.indiatimes.com) Other valuation firms are landing in nearly the same range. Houlihan Lokey said in July 2025 that the league’s business value had reached $18.5 billion after a 12.9% year-over-year increase. (sportspro.com) The result is that the Indian Premier League is being priced less as a seasonal tournament and more as a long-duration media business with cricket attached. (economictimes.indiatimes.com)