India's cricket economy has just scratched surface, says Knight Riders CEO

Venky Mysore says India's cricket valuations have only scratched the surface, as investments rise and sports like football, kabaddi, and e-sports gain traction

With the major franchises in the Indian Premier League (IPL) observing a rise in their brand valuations, Venky Mysore, chief executive officer (CEO) of Knight Riders Group and Red Chillies Entertainment, said that India’s cricket economy has just scratched the surface in terms of billion-dollar valuations.

 

“People are talking about the valuations of IPL teams, but essentially, what has happened is people talk about billion-dollar valuations... We have literally just scratched the surface because cricket has been around for the longest time,” Mysore said in his keynote address at FICCI FRAMES 2025.

 

He further added, “I will give you a parallel, as we have set up a team in LA (Los Angeles). In LA, there are two football teams, there is a baseball team, two basketball teams, there’s an ice hockey team, and then there’s Major League Soccer (MLS), all in one city. Here, the lowest valuation of any team is a billion dollars, while the highest valuation is almost $5 billion.”

 

Mysore’s comments come at a time when Serum Institute of India’s CEO Adar Poonawalla is said to be in talks with the Royal Challengers Bengaluru (RCB) owners, Diageo Plc, to possibly acquire the team, where Diageo Plc is looking at a $2 billion valuation, as per media reports. 

 

“While the product and model (of cricket economy) have evolved to a point where everyone understands the power of it, there’s a lot of investment that is going to come into it. I genuinely believe it will transcend into other sports and create an ecosystem for the media and entertainment industry,” he added.

 

He also highlighted the global attention that Indian cricket attracts, stating that the IPL final attracted nearly 169 million television viewers, crossing the Super Bowl’s 155 million TV viewers. Additionally, he added that in today’s scenario, athletes have become entertainers, and entertainment has become a cultural experience.

 

“Every live moment today becomes a story, a connection, and a commercial opportunity,” he said.

 

Meanwhile, in another session at the FICCI FRAMES 2025, Ishan Chatterjee, CEO, Sports, JioStar, said India’s sports and media ecosystem is entering a new phase of explosive growth powered by fandom, technology, and inclusivity.

 

While men’s cricket continues to grow, Chatterjee added, “The big trend that we are betting on is the rise of other sports in India. Whether those are established sports like tennis, football, and kabaddi, or even newer ones like e-sports, that’s where we expect exponential growth, and it’s not just because we want it to happen, as soon as Indian athletes start delivering world-class results, we see fandom accelerate. Just look at what Neeraj Chopra did for the javelin.”

 

He noted that India’s sports economy is set to grow from $30 billion to $70 billion between 2023 and 2030, citing research conducted by Deloitte. 

 

“To put that in perspective, Brazil stands at $6 to 8 billion, and the UK, one of the most advanced markets, is at about $40 billion. We are truly at an inflection point,” Chatterjee said.