The Indian Premier League has been growing at a fast and steady pace. Forbes named the IPL the fastest growing sports league in the world. IPL has in fact beaten popular leagues like NBA and NFL in terms of growth.
Let’s dive a little bit deeper into this topic.
As per the Forbes report, the average valuation of an Indian Premier League each IPL team is currently $1.04 billion (roughly – INR 7974 crores). its growth has increased by 24% in the past year. The evaluation of the league is $7 billion and with IPL Media Rights coming up, the league will cross the $10 billion mark.
Popular tournaments like NBA and NFL are now behind IPL. NFL’s team valuation growth rate is 10%, while NBA’s team valuation growth rate is 16%.
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Mumbai Indians are currently the most valued IPL franchise with a remarkable valuation of $1.3 billion.
The five-time IPL champions are currently valued more than many MLB, MLS and NHL teams.
What is more impressive is the fact that IPL’s team valuations are only expected to rise from here, given that a new media rights deal will be in place very soon.
T the moment, the Board of Control for Cricket in India (BCCI) has a five-year media rights deal with Star India. Star India is supposed to pay a sum total of $2.4 billion. However, the deal will end with IPL 2022. After that, a fresh auction will be held for the Media Rights tender. With the addition of two new teams (Gujarat Titans and Lucknow Super Giants), the number of matches will increase and BCCI will get paid between $6 billion to $7 billion.