Evolution of the IPL Inspired by the meteoric rise of T20 cricket, the Board of Control for Cricket in India (BCCI) conceptualized the Indian Premier League (IPL) in 2008. This league was designed as an annual tournament featuring city-based franchises, blending cricket with entertainment. The inaugural season, preceded by a glamorous opening ceremony, was an immediate success and captivated fans both in India and globally. Since then, the IPL has grown into the richest and most popular T20 league in the world. The first season featured eight franchises, with their owners determined through a bidding process in January 2008. The base price for each team was set at $50 million, totalling $400 million, but the final auction fetched over $720 million. Mumbai emerged as the most expensive franchise. Over the years, the league has expanded to include two new teams, introduced in 2021, and seen shifts in ownerships. Many of the franchise owners are high-profile business tycoons and celebrities in India. In this article, let’s take a closer look at the current owners of each IPL team, their businesses, and their estimated net worths. Mumbai Indians As mentioned earlier, Mumbai Indians were the most expensive team in the inaugural auction, bought for $111.90 million. The team has been among the most successful in IPL history, winning five titles. It is owned by Mukesh Ambani, India's richest man for decades. Ambani is the Chairman and Managing Director of Reliance Industries, a multinational conglomerate with business interests across petroleum, telecom, retail, and more. As per Forbes' Realtime Billionaire list, his net worth is approximately $108 billion. Royal Challengers Bengaluru The Bengaluru-based franchise received the second-highest bid in 2008 and was acquired by Vijay Mallya for $111.60 million. Mallya, then Chairman of United Spirits, lost control of the franchise in 2016 due to financial issues. Ownership transferred to Diageo, one of the world’s largest alcoholic beverage companies, headquartered in London. As of May 2025, Diageo is valued at approximately $62.63 billion. Chennai Super Kings Chennai Super Kings (CSK) boasts one of the most loyal fan bases and is also among the most decorated teams, with five IPL titles. The franchise was originally owned by India Cements under the leadership of N. Srinivasan. Ownership was later transferred to Chennai Super Kings Cricket Limited in 2014 due to regulatory reasons, but Srinivasan remains at the helm. His net worth is estimated at around $100 million (₹820 crores). Delhi Capitals The Delhi-based team was acquired by the GMR Group for $84 million. GMR, a major conglomerate in infrastructure, aviation, and energy, is led by Kiran Kumar Grandhi and is worth around $3.2 billion. In 2018, GMR sold a 50% stake to JSW Sports, led by Parth Jindal, whose net worth stands at approximately $7.68 billion. The team also rebranded from Delhi Daredevils to Delhi Capitals in the same year. Punjab Kings Initially called Kings XI Punjab, the team has a diverse ownership group. Bollywood actress Preity Zinta owns a 23% stake, with a personal net worth of about $15 million. The majority stakeholder is Mohit Burman (46%), Chairman of Dabur, valued at $10.6 billion. Other stakeholders include Ness Wadia (net worth $6.7 billion) of the Wadia Group and Karan Paul (6%), valued at $1.5 billion. Sunrisers Hyderabad After Deccan Chargers went bankrupt in 2012, Sun TV Group acquired the team and relaunched it as Sunrisers Hyderabad in 2013. Led by Kalanithi Maran, with daughter Kavya Maran as the public face, the Sun TV Group is worth about $5.3 billion. Kavya Maran’s personal net worth is estimated at around ₹400 crores. Kolkata Knight Riders The Kolkata franchise gained massive attention as it was co-owned by Bollywood superstar Shah Rukh Khan, who holds a 55% stake. According to the Hurun Rich List 2024, Khan’s net worth is approximately ₹7,300 crores. The remaining 45% is owned by Juhi Chawla and her husband Jay Mehta. Mehta chairs the Mehta Group, which has assets worth over $2.1 billion. The team is currently the reigning champion. Rajasthan Royals Rajasthan Royals was the cheapest team in the 2008 auction at $67 million. Initially underestimated, they stunned the world by winning the inaugural IPL. The team’s ownership has evolved, especially after the 2013 spot-fixing scandal. Manoj Badale (Emerging Media) now owns 65% of the team, with a net worth of around $160 million. Other stakeholders include Lachlan Murdoch (Fox Corporation), who is worth $2.1 billion. Gujarat Titans One of the newest teams, Gujarat Titans debuted in 2022 and immediately won the title, finishing runners-up in their second season. Initially owned by CVC Capital Partners (with €186 billion in assets), the team saw a major change when Torrent Group bought a 67% stake in 2025. Torrent, with interests in pharma and energy, has a market cap of $25 billion. The Titans have become a favorite even on platforms like every major cricket betting site, where fans eagerly back their dynamic performances. Lucknow Super Giants The Lucknow franchise became the most expensive team ever sold in an IPL auction, fetching ₹7090 crores (~$1 billion). It is owned by Sanjiv Goenka’s RPSG Group, with a market cap of ₹82,000 crores. Goenka himself is estimated to be worth $3.9 billion. Conclusion The IPL has transcended the boundaries of traditional cricket, becoming a global sporting phenomenon. Its massive popularity is driven not just by thrilling on-field action and international talent but also by the high-profile ownerships that bring immense media attention, glamour, and resources. With each season, the league continues to grow, both in stature and value—something clearly evident in its skyrocketing viewership, rising team valuations, and the interest it garners on every leading cricket betting site.