Global private equity investors, including KKR and Blackstone, are increasingly viewing the Indian Premier League (IPL) as a high-potential investment opportunity, drawn by rising revenues, record viewership, and a centralised revenue-sharing model, according to a report by Bloomberg.
The IPL, the world’s richest cricket league, saw its business value reach $18.5bn last year, according to Houlihan Lokey, making it the second-most valuable sports league per match after the NFL.
KKR and Blackstone are reportedly exploring stakes in teams including last season’s winners Royal Challengers Bengaluru and Rajasthan Royals, while Swiss firm Partners Group is also considering investment in at least one team.
European private equity firm CVC Capital previously triggered investor interest after selling a majority stake in Gujarat Titans for a return exceeding 350% in four years, valuing the team at $900m.
Key factors attracting PE investment include the IPL’s pooled revenue-sharing model, rising franchise earnings, and the doubling of broadcast rights to over $6bn in 2022. Analysts note that team revenues and profits have surged, with several franchises more than doubling revenue or profits since 2022.
Industry experts highlight that the limited number of franchises, unrestricted private ownership, and strong media economics make the IPL a compelling asset class for private equity, despite potential risks from competing global leagues and the Disney-Reliance merger controlling broadcast rights until 2027.
