The Indian Premier League (IPL) is a lot like mangoes—both are an integral part of the Indian summer.

It’s that time of the year again. And it wouldn’t be an exaggeration to say that the IPL—now in its 17th season—will dominate public consciousness for the next two months. In brand valuation terms, the IPL is now a decacorn. Valued at $10.7 billion in 2023, the league has grown a whopping 433% since its inaugural edition in 2008, according to Brand Finance, a global brand valuation consultancy.

Between 2022 and 2023 alone, IPL’s valuation increased 28% from $8.4 billion, riding on the resurgence of packed stadiums (post two Covid-hit seasons), soaring growth in the value of media rights and sponsorships, and steady interest from advertisers across TV and digital.

Let’s further break down the numbers behind this phenomenon that has not only made BCCI the richest sporting body in the world—even more than the governing body of cricket (ICC), in fact—but has also spawned a plethora of franchise-based domestic leagues across different sports, including, kabaddi, football, hockey, badminton, volleyball, and wrestling.

Broadcasting income takes the cake

Perched atop IPL’s list of riches is BCCI’s income from central broadcasting rights (both domestic and international). This has surged 19x from ~Rs 500 crore in the first season in 2008 to Rs 9,600 crore in 2023, according to a report by brokerage firm Jefferies. “A single IPL match now generates ~$16 million in broadcasting revenue, which is next only to the USA’s NFL ($37 million),” it stated in the report.