India, July 30 -- The Indian Premier League's business value rose 11.4% to $20.6 billion, a consecutive year of double-digit growth, according to Houlihan Lokey's IPL Valuation Study 2026, as record franchise sales confirmed the league as a global institutional asset.

Royal Challengers Bengaluru (RCB) - champions for the past two seasons and home to Virat Kohli - were sold on March 24 in a $1.78 billion all-cash deal, the most expensive single franchise transaction in IPL history.

Rajasthan Royals - which finished fourth in the 2026 edition and for whom teen sensation Vaibhav Sooryavanshi plays - followed on May 3, at a $1.65 billion valuation.

RCB remains the league's most valuable brand at $312 million, up 16% on the year. The report...