IPL value rises to $20.6 billion, bank report says

The Indian Premier League's value rose 10.3 percent over the past year to an estimated $20.6 billion, investment bank Houlihan Lokey said in a report on Wednesday.

The bank said the increase was helped by ownership deals involving two major franchises. It said that, on a per-match basis, only the NFL ranks ahead of the IPL globally.

Houlihan Lokey put Royal Challengers Bengaluru's brand value at $312 million, keeping it as the league's most valuable franchise. The team was recently acquired by a consortium including US asset manager Blackstone in a deal worth nearly $1.8 billion, described in the report as the most expensive franchise transaction in IPL history.

Rajasthan Royals also changed hands in a deal valued at $1.65 billion, with Lakshmi N. Mittal and his family joining Adar Poonawalla in taking control.

The IPL began in 2008 and has become a major revenue source for the Board of Control for Cricket in India. The league was estimated to generate more than $11 billion a year for the Indian economy in 2020.