IPL's business value soars above $20 billion, says report

NEW DELHI, July 29 : The business value of the Indian Premier League, the world's richest Twenty20 series, has soared more than 11 per cent to $20.6 billion this year, according to U.S.-based investment bank Houlihan Lokey.Since its launch in 2008, the 10-team competition has consistently attracted cricket's leading players, while building a commercial model that combines broadcast revenues, sponsorship, merchandising and franchise investment.Ownership changes at its Royal Challengers Bengaluru and Rajasthan Royals franchises earlier this year further demonstrated the IPL's appeal to major investors and the premium attached to established teams within the league.A consortium comprising Blackstone, Bolt Ventures, Aditya Birla Group and Times of India Group said in March it would acquire the