IPL 2025: The 18th season of the Indian Premier League (IPL) will be remembered as a landmark edition, especially for Royal Challengers Bengaluru (RCB), who lifted their maiden trophy after 17 years of perseverance. Their historic victory at the Narendra Modi Stadium in Ahmedabad on June 3 not only thrilled fans but also triggered fresh discussions around the business of IPL franchises. Notably, Bloomberg reported soon after RCB’s win that their parent company, Diageo, is contemplating selling a portion of its stake in the team.
With such developments in the spotlight, many fans are curious to know who owns their favorite IPL teams. Here’s a comprehensive and updated list of the parent companies behind the 10 IPL franchises in 2025.
1. Royal Challengers Bengaluru (RCB): Diageo PLC
RCB was initially bought by liquor baron Vijay Mallya to promote his ‘Royal Challenge’ brand. However, the franchise is now owned by British multinational beverage company Diageo PLC through its Indian subsidiary, United Spirits Ltd. Following RCB’s title win, United Spirits’ stock saw a 3.3% jump, and reports suggest that Diageo is evaluating the possibility of selling some or all of its stake in the team.
2. Mumbai Indians (MI): Reliance Industries
One of the most prosperous teams in IPL history is MI, which is owned by Indiawin Sports Private Limited, a wholly-owned subsidiary of Reliance Industries.. The Ambani family has been a constant presence at the team’s games, and MI has also expanded its footprint into global T20 leagues with sister franchises.
3. Gujarat Titans (GT): Torrent Group and Irelia Company Pte Ltd
CVC Capital Partners, through its arm Irelia Company Pte Ltd, initially purchased the Gujarat Titans in 2022. In a significant move ahead of the 2025 season, Torrent Group acquired a 67% stake in the team, while CVC retained a 33% share. GT continues to build on its strong debut season, where they won the title under Hardik Pandya.
4. Lucknow Super Giants (LSG): RPSG Group
In 2022, the RP Sanjiv Goenka Group paid ₹7090 crore to acquire the Lucknow franchise. The squad, known as the Lucknow Super Giants, has made it to the playoffs twice in the last four seasons. The group’s chairman, Sanjiv Goenka, is often seen supporting the team during matches.
5. Chennai Super Kings (CSK): Chennai Super Kings Cricket Limited
Initially managed by India Cements, CSK was later separated into a distinct entity named Chennai Super Kings Cricket Limited (CSKCL) in 2014. While Saradha Logistics and Life Insurance Corporation of India (LIC) own minor shares of about 6% each, India Cements Shareholders Trust holds 30% of CSKCL as of 2023.
6. SunRisers Hyderabad (SRH): SUN Group
After the Deccan Chargers’ exit from the league, Sun Group, led by Kalanithi Maran, took over the Hyderabad-based team in 2013 and rebranded it as SunRisers Hyderabad. In 2016, the team took home its first IPL championship. Maran’s daughter, Kaviya Maran, plays an active role in team operations, including their sister team in SA20 – SunRisers Eastern Cape.
7. Kolkata Knight Riders (KKR): Knight Riders Sports Private Limited
While many associate Shah Rukh Khan as the face of KKR, the franchise is owned by Knight Riders Sports Private Limited. SRK’s company, Red Chillies Entertainment, holds a 55% stake, whereas the remaining 45% is with the Mehta Group, led by Jay Mehta, husband of Juhi Chawla.
8. Delhi Capitals (DC): GMR Group & JSW Sports
GMR Group was the original owner of the Delhi franchise, earlier called Delhi Daredevils. In 2018, JSW Sports acquired a 50% stake for ₹550 crore, prompting a rebranding to Delhi Capitals. The two companies take turns managing the team, with GMR Group holding operational control during IPL 2025.
9. Punjab Kings (PBKS): KPH Dream Cricket Private Limited
KPH Dream Cricket Private Limited is the company behind PBKS. It includes several well-known stakeholders: Preity Zinta and Ness Wadia (23% each), Mohit Burman of Dabur India (46%), and Karan Paul of Apeejay Surrendra Group (8%). PBKS remains a fan-favorite despite lacking a title win.
10. Rajasthan Royals (RR): Emerging Media Sports Holdings Limited
Rajasthan Royals was the most affordable franchise in the inaugural IPL auction, purchased for $67 million by Emerging Media, led by Manoj Badale, who still owns a 65% stake. Lachlan Murdoch (13%) and RedBird Capital (15%) are two other significant shareholders. Bollywood personalities Shilpa Shetty and Raj Kundra were once involved with the team as well.
Conclusion
The IPL is not just a cricketing spectacle but a billion-dollar sporting league with massive corporate backing. From global beverage giants to business conglomerates and Bollywood celebrities, the diversity of ownership reflects the league’s ever-growing appeal. With franchises expanding into international markets and exploring stake sales, the business of cricket is clearly evolving alongside the game itself.
