For first time, IPL valuation falls consecutively for two years
What's the story
The Indian Premier League (IPL) has witnessed a decline in its ecosystem valuation for the second consecutive year. The D&P Advisory, a consulting and advisory firm, has reported that IPL's valuation fell to ₹76,100 crore in 2025 from ₹82,700 crore in 2024 and ₹92,500 crore in 2023. This is the first time such a trend has been observed in IPL's history.
Revenue loss
'Decline sharper in commercial impact'
The report highlights that the ban on Real Money Gaming (RMG) has taken away ₹1,500-2,000 crore of annual advertising and sponsorship spending from the IPL ecosystem. This has affected broadcaster revenues, franchise partnerships, and fan-engagement activations. Santosh N, Managing Partner at D&P Advisory, said that the decline is sharper in its commercial impact at 10.9% and more structural in nature.
Platform withdrawal
Fantasy and gaming platforms were IPL's biggest advertisers
Fantasy and gaming platforms were IPL's biggest advertisers, contributin around 2,000 crore annually through league, franchise, and broadcaster deals. However, with the Promotion & Regulation of Online Gaming Act 2025 banning money-game advertising and sponsorships, this entire revenue stream has disappeared. This has made it difficult for franchises to replace these deals with traditional sectors like FMCG (fast-moving consumer goods), BFSI (banking financial services insurance), auto or EVs (electric vehicles).
Sponsor exit
Major challenge for IPL franchises
Dream11's ₹358 crore exit from the national jersey deal was a major indication of the wider withdrawal. Santosh said that the challenge now is to replace unstable categories with more stable, diversified value streams. He emphasized that India's premier sports league should continue to grow sustainably, even without auction fever or RMG-fueled spending.
Rights consolidation
Media rights consolidation also played a role
Along with the RMG ban, D&P Advisory's report also notes the effect of media rights consolidation in 2024. The first IPL valuation decline occurred when IPL's television and digital rights were consolidated under one roof. This ended the two-horse race that had fueled rights inflation and auction fever in previous cycles. Despite record audiences, a monopolized rights market indicated lower escalation in future auctions.
WPL challenges
WPL valuation also declined
The Women's Premier League (WPL) has also seen a valuation decline from ₹1,350 crore to ₹1,275 crore, a 5.6% drop. Dream11's three-season deal ended in 2025 and with the online gaming bill passed in August, BCCI is now tasked with finding new sponsors for WPL. With just months left before the next season and little interest from new corporate partners, the league is headed into uncertain territory.