Pakistan, July 9 -- The Indian Premier League (IPL) has reached a staggering business valuation of $18.5 billion, according to a new report by U.S. investment bank Houlihan Lokey. The report highlights the IPL's rise as a global sports powerhouse, with reigning champions Royal Challengers Bengaluru (RCB) emerging as the wealthiest franchise, overtaking Mumbai Indians and Chennai Super Kings.

RCB, led by star batter Virat Kohli, claimed their first IPL title this year and now hold a brand value of $269 million. Mumbai Indians follow with $242 million, and Chennai Super Kings are third with $235 million. The total brand value of the 10-team league has surged by 13.8% in just one year, reaching $3.9 billion.

According to Houlihan Lokey's H...