In some other foreign leagues, sometimes a franchise even fails to pay its players. Then there is the Indian Premier League (IPL) that just continues to grow. The IPL has hit a new milestone, with its teams now counted among some of the most valuable companies in the country.
The 2025 Burgundy Private Hurun India 500 has revealed how far the Indian Premier League has come, with five IPL franchises finding a place among India’s 500 most valuable non-state-owned companies for the very first time. Kolkata Knight Riders, Chennai Super Kings, Royal Challengers Bengaluru, Rajasthan Royals and Punjab Kings now sit alongside some of the country’s biggest corporate names, with a combined valuation of more than Rs 71,000 crore.
KKR, the highest-valued IPL franchise?
It is the clearest indication yet that investors didn’t invest just in a cricket team. Their vision of making profits out of it is the real deal. IPL teams are now year-round business brands with enormous commercial value.
KKR emerged as the highest-ranked franchise, placed 270th with a valuation of Rs 20,850 crore. Chennai Super Kings followed closely at Rs 19,550 crore, while Royal Challengers Bengaluru occupied the third spot among IPL teams with a valuation of Rs 16,700 crore. Rajasthan Royals and Punjab Kings completed the list at Rs 15,700 crore and Rs 14,050 crore, respectively.
While RCB have been the most consistent team in the last two years, Chennai is perhaps the most successful alongside the Mumbai Indians. Yet, it is KKR who leads the valuation race. Unlike most franchises, KKR isn’t just an IPL team anymore. The Knight Riders Group owns teams across multiple leagues, including CPL, MLC and ILT20. That makes KKR a global cricket brand. Co-owner Shah Rukh Khan is one of the biggest marketing assets in world sport.
IPL franchises in 2025 Burgundy Private Hurun India 500
| Rank | Franchise | Valuation (₹ crore) |
|---|---|---|
| 270 | Kolkata Knight Riders | 20,850 |
| 285 | Chennai Super Kings | 19,550 |
| 330 | Royal Challengers Bengaluru | 16,700 |
| 343 | Rajasthan Royals | 15,700 |
| 390 | Punjab Kings | 14,050 |
| Combined valuation | Five IPL franchises | 86,850 |
The Hurun 500 list valuations are similar to what we saw recently when RCB and RR went on the market for sale. Just weeks before the rankings were published, RCB and Rajasthan changed hands in two blockbuster ownership deals. RCB was bought for around ₹16,660 crore by the Birlas, while Rajasthan Royals fetched more than ₹15,000 crore. RR were acquired by a heavyweight group led by steel tycoon Lakshmi Mittal and Serum Institute CEO Adar Poonawalla.
Why are IPL teams worth billions?
As mentioned above, there’s no correlation between an IPL team’s valuation with respect to their success on the field. RCB, despite winning nothing in first 17 years, have built the most loved franchise in the IPL. The fanbase is utterly magnificent, sometimes likened to renowned football clubs. Fan engagement, digital reach, sponsorship appeal, brand recall and commercial partnerships now play a huge part as well.
This is why IPL franchises have become attractive long-term business assets. Every year, the league keeps its teams relevant well beyond the two-month tournament. Player auctions, retention announcements, trade windows, digital content, merchandise sales, sponsorship activations and global fan engagement ensure these brands remain in public conversation throughout the calendar.
According to the Hurun report, companies required a minimum valuation of Rs 10,230 crore to make this year’s list. Collectively, the 500 companies are valued at US$3.4 trillion, employ 8.9 million people, contribute Rs 3.23 trillion in taxes and spend Rs 13,433 crore on corporate social responsibility initiatives.
“Cricket is no longer just India’s sport; it is India’s business. The debut of CSK, KKR, PBKS, RR and RCB on the 2025 Hurun India 500, with a combined valuation of over Rs 71,000 crore, is a defining moment: for the first time, the boardroom and the boundary rope are on the same list.” Hurun India founder and chief researcher Anas Rahman Junaid summed everything up.
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