The valuation of Indian Premier League has eroded for a second year in a row, after a bidding war for broadcasting rights made it the world’s most lucrative cricket tournament.
IPL’s valuation dropped nearly 11% to $8.8 billion in 2025, from $9.9 billion in 2024, according to a report by consulting firm D&P Advisory released on Wednesday (15 October 2025). The coveted event was valued at a peak of $11.2 billion in 2023.
The “twin shocks” of a ban on online betting apps and consolidation of media rights have led to a fall in the valuation of the tournament, the report said.
Reliance Industries Ltd. agreed to merge its media assets with Walt Disney Co,’s India operations in 2024, bringing down competitive intensity in bidding for IPL’s broadcast and streaming rights. Also, India moved a legislation in August to ban online money gaming due to rising instances of addiction, money laundering and financial frauds through these apps.
While the fundamentals of the IPL are still strong, the league has to shift from “episodic valuation spikes” to sustainable growth built on diversification, digital monetisation, and potential entry of global streaming giants, according to the report.