Cricket is, surprisingly, the second most popular sport globally, with around 2.5 billion fans. It sits just behind soccer in terms of fandom. A large part of this popularity comes from India, where the Indian Premier League (IPL) has significantly contributed to making T20 cricket the most loved format of the game.
Over its 18-year history, the IPL has seen eight different champions, with its success attributed to competitive balance, a distinctive drafting system, and the draw of top talent from around the world. However, the financial details behind the scenes have only recently come to light.
Recently, Sportico released the first-ever valuations of IPL teams, revealing the league’s overall financial health. Topping the list are the Mumbai Indians, who are the only team to surpass the $2 billion valuation mark. Interestingly, the competition among the other teams in terms of worth is quite close, indicating that the league isn’t just maintaining but genuinely flourishing. Other countries are now looking to emulate this success.
As we look forward to the IPL’s next season set to kick off in March 2027, it’s useful to reflect on what made the 2026 season so competitive.
A back-to-back champion, but LOTS of competition
The Royal Challengers Bengaluru secured back-to-back championships, thanks in large part to the outstanding performances by Virat Kohli and Devdutt Padikkal. Yet, it’s important not to overlook that Bengaluru’s success wasn’t due to a dominating performance; they finished with a 9-5 record, just like the Gujarat Titans and Sunrisers Hyderabad. The Rajasthan Royals and Punjab Kings were close behind, at 8-6 and 7-6-1, respectively.
Thus, a substantial portion of the league was tightly packed, with only a single win difference separating half the teams. This makes the four-team playoff system highly unpredictable. Moreover, all teams managed at least four wins in their 14 matches, indicating no team completely dropped out of contention.
Still home to the most fascinating draft in sports
The IPL draft is unlike a typical draft in the U.S.; it’s more akin to open free agency. Players looking to join the league enter the IPL Draft Auction, where teams bid for their services, allowing the highest bidder to add new talent. It creates a dynamic that keeps teams evolving.
In the 2026 season, the Kolkata Knight Riders made a significant move by making 13 picks, the highest in the league. Although they didn’t see immediate success, they focused on team cohesion, which could set them up for a strong showing in 2027, especially with Cameron Green, a $3 million acquisition, at the core of their lineup.
The “Mega Auction” is coming
The upcoming IPL Draft Auction in December 2027 will be the last mini-auction of this cycle, where only a few players transition between teams or enter the league.
In 2028, the IPL will embark on a new media rights agreement, coinciding with a Mega Auction that takes place only every few years. In this Mega Auction, teams can safeguard only a limited number of their players, leading to a mass release of others into the bidding pool. This financial openness and roster adjustment allows players to avoid being locked into unfavorable contracts, with salaries reflecting the league’s growth. The new rights deal is anticipated to be the second-highest globally after the NFL, with around $5.4 billion expected annually. Still, competition may arise from current rights holder Disney/Viacom and potential bidders like Amazon or Netflix.
The stage is set for a fascinating few years in the IPL
One challenge the IPL has yet to overcome is breaking into the U.S. market. Cricket aims to establish itself as the ideal late-spring sport, bridging the gap between the NBA/NHL seasons and the start of baseball.
On the flip side, Major League Baseball is eager to promote itself in India as a summer sport to take the spotlight when the IPL season concludes. This mutual interest has led to crossover events and could foster scenarios where baseball players try their hand at cricket, as well as cricketers picking up baseball. Coupled with the IPL’s competitive nature and the approaching Mega Auction, the league promises to be an exciting watch in the coming years.
In short, IPL cricket may be the number one sport globally that you’re probably not tuning into.
