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IPL Gears Up for Major Expansion: New Teams to Join by 2028
10 Nov
Summary
- IPL plans to add new franchises starting from the 2028 media rights cycle.
- Potential new teams could be valued at over $1 billion each.
- Vadodara and Pune are considered as possible locations for new IPL franchises.
The Indian Premier League (IPL) is on the brink of its largest expansion since 2022, with plans to introduce new franchises from the 2028 media rights cycle. Cities such as Vadodara and Pune are emerging as strong contenders to host these new teams. This expansion is anticipated to significantly boost the league's valuation, with each new franchise potentially valued at over $1 billion.
Investor interest is reportedly high, with private equity firms, sovereign wealth funds, and wealthy individuals evaluating potential bids. Gujarat is actively promoting Vadodara as a sports hub, while Pune has a historical connection to the IPL. The league, which currently features 10 franchises, last expanded in 2022 with the addition of two teams.
The proposed expansion aligns with the upcoming 2028-2032 media rights cycle, for which the IPL's business value has surged to $20.6 billion. The league's growing commercial appeal and its status as the second most valuable sports property globally per match, trailing only the NFL, are driving this interest. However, a key consideration for the expansion will be the availability of sufficient Indian cricket stars to support the new franchises.
