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PlayersMumbai Indians top IPL valuation rankings at $2.1 billion as league reaches $17 billion
MI are also ahead of established American franchises. Baseball’s Detroit Tigers are valued at $2.08 billion, and ice hockey’s Vancouver Canucks at $2.05 billion
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Mumbai Indians, the five-time Indian Premier League (IPL) champions, are the most valuable team in the IPL, worth $2.1 billion, according to a 2026 valuation study of the league by Sportico. That places the Reliance Industries-owned franchise ahead of Royal Challengers Bengaluru ($1.85 billion) and Chennai Super Kings ($1.75 billion).
Mumbai Indians also stands ahead of established American franchises -- baseball’s Detroit Tigers are valued at $2.08 billion and ice hockey’s Vancouver Canucks at $2.05 billion.
Mukesh Ambani's Reliance Industries had submitted the winning bid of $111.9 million to secure the franchise in 2008. That made Mumbai the most expensive team among the IPL's original eight franchises. The team is now worth almost 19 times the original price.
Next year, the franchise will add Nike as the kit partner, marking the brand's return to the IPL after 19 years.
The gap between the top and bottom-placed teams is narrow. Lucknow Super Giants are the least valued IPL franchise at $1.5 billion, just $600 million behind Mumbai. Together, the 10 teams are worth about $17 billion, averaging $1.7 billion per team.
From $724 million to $17 billion
After the end of the inaugural IPL season in 2008, league founder Lalit Modi argued that the team owners had got a bargain. He said they had bought assets that were “heavily underpriced," and the current numbers prove him right.
The eight original IPL franchises were sold for a combined $723.59 million, averaging about $90 million per franchise. The owners did not pay the price up front; they paid 10% of the bid annually over 10 years. Only seven of those eight teams exist, with Deccan Chargers getting moved in 2012, and Sunrisers Hyderabad entered as a new franchise rather than a continuation. Today they are worth $12.31 billion, about 20 times the original combined price, implying a rise of nearly 1,900%.
Across all 10 current teams, the league is worth about $17 billion, averaging $1.7 billion per franchise. That's an 1,800% rise from the 2008 average.
The cheapest bets have gained more success. Rajasthan Royals, the inaugural champions, were the lowest-priced team in 2008 at $67 million and the fastest-growing since, having multiplied nearly 25 times. In May, a consortium led by Lakshmi Mittal bought the franchise for $1.65 billion, the same figure Sportico reported. The Shah Rukh Khan co-owned Kolkata Knight Riders was also among the cheapest buys at $75.09 million and is now valued at 23 times more, making it the second-fastest-growing among the original teams.
RCB, acquired in March by a consortium of Aditya Birla Group, Blackstone, David Blitzer’s Bolt Ventures and the Times Group for $1.78 billion, was the second-costliest team in 2008 at $111.6 million. It has grown the least of the original sides, about 16.6 times, despite its two titles.
The 23x question
The size of the valuation is not the most striking part in the report; what stands out to us is what buyers are willing to pay for every dollar it earns.
Sportico estimates that an average IPL team earned $74.4 million in revenue in the 2026 season. That is 22.9 times the average current team value of $1.7 billion. This number is called the revenue multiple, the standard metric for valuing sports teams, because investors care more about size and the safety of income than yearly profit. The higher the multiple, the more a buyer is willing to pay for every unit of income.
No major league comes close. NBA teams trade at 14.6 times revenue, NFL teams at 12.7, NHL at 9.4 and Major League Baseball at 7.2.
