Franchise values purportedly fall amid a year of disruption
The Indian Premier League entered 2025 on unstable footing, with geopolitical tensions, suspended fixtures, and commercial headwinds converging to deliver its sharpest brand-value correction in half a decade, according to a Brand Finance report. The ecosystem’s valuation by Brand Finance sank to US$ 9.6 billion from US$ 12 billion in 2024, pushing the league below the US$ 10‑billion threshold for the first time since 2023. Within that broader contraction, the report noted that “IPL 2025 reflects a period of course correction, positioning the league to regain momentum and strengthen its long-term brand value.”
According to the firm, the dip was driven not only by the season’s interruptions following the India‑Pakistan conflict in May—when matches, including playoffs, were halted for a week—but also by franchise instability that followed the mega‑auction cycle and market dislocation following India’s Real Money Gaming (RMG) ban. Key teams that had seen 36%–70% brand‑value surges the previous year faltered as restructured squads struggled to perform.
Sharp declines redefine the franchise rankings
At the top end of the standings, even strong brands were not spared by the report’s authors. Mumbai Indians retained their No.1 position at US$ 108 million but still recorded a 9% decline. Royal Challengers Bengaluru, despite their long‑awaited maiden title, dropped 10% to US$ 105 million. Chennai Super Kings endured one of the steepest falls—24%—slipping to US$ 93 million after finishing at the bottom of the 2025 table.
The downturn was even harsher lower in the order. Kolkata Knight Riders fell 33% to US$ 74 million, Sunrisers Hyderabad plunged 34% to US$ 56 million, and Rajasthan Royals suffered a 35% fall to US$ 53 million. Delhi Capitals also dropped 26% to US$ 59 million after narrowly missing the playoffs. Only Gujarat Titans defied the trend, posting a modest 2% rise to US$ 70 million.
Punjab Kings and Lucknow Super Giants experienced relatively modest dips in brand value compared to others. Punjab, climbing from ninth to sixth in the rankings, was valued at US$ 66 million following a 3% decline, buoyed by strong leadership under Shreyas Iyer and a dominant league-stage performance. Lucknow Super Giants, despite high expectations and marquee signings like Nicholas Pooran and David Miller, fell 2% to US$ 59 million, settling at seventh place after inconsistent displays in the latter half of the season.
The volatility, the report stated, stemmed from cascading on‑field effects, as “geopolitical disruptions, lost momentum and auction missteps prompted teams to recalibrate their squad composition to result in subpar match-day performances.”
Real-money gaming ban deepens commercial strain
The commercial ecosystem surrounding the league faced turbulence as well. The government’s ban on real‑money gaming eliminated IPL’s biggest advertiser category, removing ₹1,500 crore (approx. US$ 166.7 million)–₹2,000 crore (approx. US$ 222.2 million) in annual sponsorship and advertising. That void spread across broadcasts, franchise deals, and fan‑engagement initiatives, compounding the drop caused by match suspensions.
The financial stress mirrors a broader downturn in cricket’s commercial landscape. Media-rights bidders are recalibrating expectations, and earlier valuation cycles have already shown erosion: ₹92,500 crore (approx. US$ 10.2 billion) in 2023 fell to ₹82,700 crore (approx. US$ 9.2 billion) in 2024, and further to ₹76,100 crore (approx. US$ 8.5 billion) in 2025. An earlier D&P Advisory analysis underscored the severity of the shift, noting that “the twin shocks collapse of rivalry in media rights and the exit of the IPL’s most aggressive sponsor category of RMG mark a reset for the league’s business model.”
IPL still a positive for India’s economy despite the slump
Despite the downturn, the league’s scale remains immense. Ajimon Francis, Managing Director of Brand Finance India, highlighted its wider economic engine, saying “We estimate that IPL 2025 ecosystem generated over 1.5 million direct, indirect jobs in India alone, functioning as a significant economic engine operating over the course of roughly 100 days each year.”
This sustained macroeconomic contribution demonstrates that even in a corrective phase, IPL continues to anchor major employment and commercial activity—an indicator of the league’s long-term resilience despite temporary valuation setbacks.
WPL rises as the men’s league recalibrates
While the IPL stuttered, the Women’s Premier League surged ahead. With more than 70 brands activating across beauty, lifestyle and financial services, the WPL delivered sponsorship revenue growth of 10%–20% at franchise level and around 10% in central deals. Strong digital engagement and 103 million television viewers across just 15 games further shifted the narrative, positioning the women’s league as one of Indian cricket’s most dynamic growth assets.
As the IPL navigates geopolitical disruptions, market resets and structural recalibrations, the 2025 season stands out as one of reassessment and rebuilding—setting the stage for how the league will restore momentum in the years ahead.
Ranking the teams
| No. | Team | Brand Value (US$ million) | Annual change |
| 1 | Mumbai Indians | 108 | -9% |
| 2 | Royal Challengers Bengaluru | 105 | -10% |
| 3 | Chennai Super Kings | 93 | -24% |
| 4 | Kolkata Knight Riders | 73 | -33% |
| 5 | Gujarat Titans | 70 | +2% |
| 6 | Punjab Kings | 66 | -3% |
| 7 | Lucknow Super Giants | 59 | -2% |
| 8 | Delhi Capitals | 59 | -26% |
| 9 | Sunrisers Hyderabad | 56 | -34% |
| 10 | Rajasthan Royals | 53 | -35% |
