For the first time in its 17-year history, the Indian Premier League (IPL) has recorded a back-to-back decline in valuation, marking a worrying shift for cricket’s most lucrative tournament.

After peaking at Rs. 92,500 crore in 2023, the league’s value fell to Rs. 82,700 crore in 2024, and now further down to Rs.76,100 crore in 2025. The decline highlights deep structural changes in the cricket economy and shifting market dynamics that have dented the IPL’s once unstoppable commercial growth.

What’s Behind the Decline?

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1. JioStar Merger Ends the Bidding War

The merger between Disney Star and Viacom18 to form a unified media powerhouse, JioStar, has ended the intense bidding battles that previously inflated the IPL’s media-rights value. With just one

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