Kolkata Knight Riders leads IPL franchise valuations at INR 19,200 crore to INR 22,500 crore, ahead of Mumbai Indians and Chennai Super Kings, both five-time IPL champions. The report estimates the total valuation of all 10 IPL franchises at INR 1,63,200 crore (USD 18 billion), with the average franchise already worth USD 1.8 billion. These findings underline how IPL franchises have evolved into premium global sports properties. The report projects that average IPL franchise valuations could touch USD 15 billion by 2032, placing Indian teams in the same financial bracket as elite NFL franchises.

While KKR leads the franchise charts, Virat Kohli remains the biggest athlete property in the league.

Kohli tops the Hurun India IPL Athlete Performance Rankings with 617 points and also leads all-time IPL earnings with INR 230.2 crore earned across 18 seasons with Royal Challengers Bengaluru. He is followed by Rohit Sharma at INR 227.2 crore and M. S. Dhoni at INR 200.3 crore.

The report notes that cumulative IPL player earnings across 18 seasons have crossed INR 6,341 crore.

Hurun India Founder and Chief Researcher Anas Rahman Junaid said the valuation model combines discounted cash flow projections with market-based price-to-sales analysis, taking into account performance, fan engagement, global cricket portfolios and city economics.

The report that was released on Monday highlights the explosive returns generated by IPL investments. Lachlan Murdoch secured a reported 92.1x return on his exit from Rajasthan Royals, while United Spirits realised a 37.2x return from RCB.

The report also highlights the growing influence of women’s sport. Smriti Mandhana leads cumulative WPL earnings with INR 13.7 crore, while the top 10 WPL players have collectively earned more than INR 90 crore in just four seasons.

Beyond cricket, the report points to the rapid growth of India’s wider sports economy.

The country now operates six major professional sports leagues across cricket, football, kabaddi, hockey and volleyball, with 59 franchises and 763 active brand partnerships. The IPL alone accounts for 307 sponsorship deals, though other leagues are now building strong commercial ecosystems of their own.

The study further notes that the sports boom is no longer restricted to metropolitan cities, with Tier 2 and Tier 3 markets emerging as major growth centres for fandom, sponsorship and league engagement.

Multi-team ownership groups are also expanding aggressively. GMR Group now owns 10 teams across cricket, kabaddi and kho-kho globally, while JSW Group has seven teams across cricket, football, kabaddi and hockey.

The 86-page report emphasises that Indian sport is rapidly transforming from a cricket-driven entertainment product into a multi-sport business economy although the IPL remains its biggest financial engine, powered by brands like Kolkata Knight Riders and star athletes like Virat Kohli.

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