The victory of the Indian team at the 2007 T20 World Cup provided wings to the Indian Premier League. The instant success of the tournament was due to the idea of having players from different teams playing together and matches being highly competitive. The interest of owners of all the teams also played a key role in giving a kickstart to the tournament.
In January 2008, a total of eight multinational conglomerates took part in the auction bidding process. The base price was set up at $50 Million (379 crores). After the end of the auction, the most expensive team turned out to be Mumbai Indians.
In the 2022 edition, the two new teams, Lucknow Super Giants and Gujarat Titans, have been added to the roster, which proved to be quite expensive for the owners, due to the brand value and popularity of the Indian Premier League.
Here is the cost of each IPL franchise in the 2022 edition:
10. Sunrisers Hyderabad – 425 crores
After the dissolving of Deccan Chargers, a Hyderabad-based franchise was bought by SUN Group in 2012. According to the Times of India, the group dished out a total of 425 crores and named it Sunrisers Hyderabad. The team made its debut in the 2013 edition of the Indian Premier League.
The SUN Group is owned by Kalanithi Maran, who is one of the richest businessmen in India. The company manages 33 TV channels, available in six different languages. They have exposure in FM Radio stations, magazines and newspapers as well.
The Sunrisers Hyderabad emerged as the winner in the 2016 edition, which is its only title victory to date. The daughter of the owner, Kaviya Maran is the key member of the team management and marks her presence in the auction and stadiums during the matches.
9. Rajasthan Royals – 508 crores
According to ESPNcricinfo, the Rajasthan Royals franchise was bought for an amount of 508 crores in a joint partnership between Tresco International Ltd, Emerging Media Pvt. Ltd, and Blue Water Estate Ltd. In the inaugural edition, the team lifted the trophy in an emphatic fashion under the leadership of Shane Warne.
In 2009, businessman Raj Kundra and actress Shilpa Shetty bought a minority stake, with the latter becoming the brand ambassador of the team as well. But, they decided to sell the stake in 2015 after Kundra was found involved in the spot-fixing scandal.
At present, the company is owned by Manoj Badale (owner of Emerging Media Pvt. Ltd), Blue Water Estate Ltd, and RedBird Capital Partners. The largest ownership in the team is of Badale, who holds 65% of the stake.
8. Kolkata Knight Riders – 569 crores
The Kolkata Knight Riders were one of the most popular franchises in the first few editions of the tournament due to the glamour quotient. It was also due to the stardom of its owners, Bollywood actor Shah Rukh Khan and actress Juhi Chawla.
As per Rediff, the Red Chillies Entertainment and Mehta Group shelled out 569 crores for buying the Kolkata Knight Riders franchise. The owner of Red Chillies Entertainment is Shah Rukh Khan, while the Mehta group is owned by the husband of Juhi Chawla, Jay Mehta.
In 2022, the owners are the same, and Red Chillies Entertainment has a 55% stake, while Mehta Group owns a 45% stake in the two-time IPL champion team. The CEO of Red Chillies, Venky Mysore manages the team’s operations for the last few years.
7. Punjab Kings – 576 crores
Formerly known as Kings XI Punjab, the team was bought at a price of 576 crores, according to Republic World. The Bollywood actress, Preity Zinta, and a group of businessmen Ness Wadia, Karan Paul, and Mohit Burman took a stake in the team.
Zinta owns a production company, PZNZ Media and Wadia is the managing director of a textile company, Bombay Burmah Trading Corporation. Paul manages Appejay Surendra Group, while Burman is the director of FMCG giant, Dabur.
As of 2022, Burman owns a 46% stake in Punjab Kings, Wadia has 26% ownership, whereas Zinta and Paul have a 23% stake and 8% stake, respectively. Among all the owners, Wadia and Zinta have been avid supporters of the team and are the key decision-makers as well.
6. Delhi Capitals – 630 crores
The Delhi-based franchise was known as Delhi Daredevils until the 2018 season and thereafter came to be known as Delhi Capitals. According to Economic Times, the franchise was bought for an amount of 630 crores ($84 Million) by infrastructure giant, GMR Group.
In 2018, Jindal South West (JSW) Group took ownership of 50%, which formed a joint partnership between JSW Group and GMR Group. The JSW Group is involved in businesses like steel, paint, energy, and infrastructure.
In the last three editions, the Delhi Capitals have been successful in reaching the playoffs, and are one of the finest teams in the tournament.
5. Chennai Super Kings – 689 crores
The second most successful team in the Indian Premier League history was bought by the renowned cement manufacturers and suppliers, India Cements. According to ESPNcricinfo, the company shelled out a total of 689 crores in order to win the bid and named it Chennai Super Kings.
In 2015, the managing director of India Cements, N. Srinivasan, approved the transfer of ownership to its subsidiary, Chennai Super Kings Ltd. This was due to the Supreme Court’s view of him having a conflict of interest. While the team was banned for two years due to spot-fixing scandal as well.
Although the team comes 5th on this coveted list, the Chennai Super Kings became the first sports entity to become a unicorn in 2021 with a market cap of 7600 crores.
4. Royal Challengers Bangalore – 845 crores
According to Business Standard, the businessman Vijay Mallya won the bid for the Bangalore-based franchise by paying a handsome amount of 845 crores ($111.6 Million). Mallya served as the chairman of liquor manufacturing companies, United Spirits, and United Breweries, and was also the founder of Kingfisher Airlines.
After a failure in the Airlines businesses, Mallya quit as the chairman from 2016 onwards in the other two companies. At present, the parent company of United Spirits, Diageo is the majority shareholder of the Royal Challengers Bangalore.
The team’s chairman is Prathamesh Mishra, who oversees the operations of the team in 2022. According to Sportzpoint, the team’s current brand value is 536 crores.
3. Mumbai Indians – 850 crores
According to Hindustan Times, Mukesh Ambani put a bid of 850 crores ($111.9 Million) for buying the Mumbai Indians in 2008, which was the highest amount spent by any owner in the first auction for the IPL teams. The businessman, Ambani is the managing director of Reliance Industries, having a presence in the energy, petrochemicals, natural gas, retail, telecommunications, and renewable energy sector.
In 2021, Ambani arranged chartered flights to send the players back to their homes after the postponement of the tournament due to Covid-19 concerns. With the Mumbai Indians securing five title victories, they are undoubtedly one of the best teams in the tournament’s history, and their brand value has been on a rising trajectory as well.
In 2022, Ambani is said to have been one of the probable applicants to bid for the Indian Premier League media rights from the 2023 to 2027 season.
2. Gujarat Titans – 5600 crores
The Ahmedabad-based franchise was bought by the equity investment firm, CVC Capital Partners for an amount of 5600 crores, as reported by Indian Express. The team made its debut in the 2022 edition of the Indian Premier League.
The CVC Capital Partners has a presence in a total of 24 offices across Europe, America, and Asia. They are not new to sports investment, as they currently have a stake in the Spanish football league, La Liga, and own Rugby teams, and launched Volleyball World in 2021.
With a net worth of $ 122 Billion (as of 2022), they are the richest owners in the Indian Premier League 2022. The team put trust in all-rounder Hardik Pandya to lead their side Gujarat Titans in their debut campaign.
1. Lucknow Super Giants – 7090 crores
According to Firstpost, RPSG Group won the bid for the Lucknow-based franchise by shelling out a whopping 7090 crores in the IPL auction 2021. The RPSG Group has companies in transmission, power and energy, and Fast Moving Consumer Goods.
Previously, RPSG Group owned Rising Pune Super Giant as well, which played in the 2016 and 2017 editions, while finishing as the runner-up in the latter edition. At the 2022 auction table as well, the chairman of RPSG Group, Sanjiv Goenka was present. The net worth of Sanjiv Goenka is 20,250 crores as of 2021, as per reported by Business Insider.
The Lucknow Super Giants is led by quality Indian batter KL Rahul, who has the experience of leading Punjab Kings in the previous two editions of the tournament.