Mumbai Indians have been declared the most valuable IPL team of 2022, according to Forbes.
The Mumbai-based franchise is valued at $1.3 billion, followed by Chennai Super Kings with a valuation at $1.15 billion.
They are followed by Kolkata Knight Riders ($1.1 billion), Lucknow Super Giants ($1.075 billion) and Delhi Capitals ($1.035 billion) while Royal Challengers Bangalore ($1.025 billion), Rajasthan Royals ($1 billion), Sunrisers Hyderabad ($970 million), Punjab Kings ($925 million) and Gujarat Titans (Value: $850 million) bring up the back-end of the list.
According to Forbes, the Indian Premier League has been a gold mine for investors.
“The IPL is the most prominent cricket league in the world in terms of attracting sponsors and media rights. A lot of credit goes to founders of the IPL, who took ideas from the NBA and European soccer leagues, and good governance by the BCCI with regards to clear visibility of team funding and ensuring the tournament continued during Covid,” Forbes quoted Ajimon Francis, managing director at Brand Finance India, a brand valuation and strategy consultancy.