The Indian Premier League is one of the most valuable products in sports. That was proved again on Monday when two new IPL franchises were sold for a combined value of $1.6 billion.
Indian businessman Sanjiv Goenka’s RPSG group won the bid for the city of Lucknow with an offer of $932 million, while private equity firm Irelia Company Pte Ltd (CVC Capital Partners) will set up base in Ahmedabad after making a bid of $692 million.
Lucknow is situated in India's most populous state Uttar Pradesh, and has a state-of-the-art cricket venue - Ekana Stadium - with a capacity of 55,000. Ahmedabad is home to the biggest cricket stadium in the world - the Narendra Modi Stadium - with a capacity of 130,000.
RPSG group previously owned the Rising Pune Super Giant team, which is not in operation anymore. CVC Capital Partners are a known name in sports; they owned Formula One between 2006 and 2017 before it was taken over by Liberty Media. In August, La Liga clubs approved an investment of $3.2 billion by CVC into the league.
This puts the two new IPL franchises in elite company. With a valuation of nearly $1 billion, the Lucknow franchise costs more than twice what the Saudi-backed consortium paid to acquire Newcastle United in the Premier League, with that deal worth £300 million ($408 million). However, IPL franchises don't have to pay all the money up front; teams pay a percentage of the amount over 10 years.
So where do these new IPL franchise deals stand in the sporting world?
Forbes' list of top 10 sports club valuations in 2021
1. Dallas Cowboys (NFL), valued at $5.7 billion in 2021
2. New York Yankees (MLB), valued at $5.25 billion
3. New York Knicks (NBA), valued at $5 billion
4. Barcelona (football), valued at $4.76 billion
5. Real Madrid (football), valued at $4.75 billion
6. Golden State Warriors (NBA), valued at $4.7 billion
7. Los Angeles Lakers (NBA), valued at $4.6 billion
8. New England Patriots (NFL), valued at $4.4 billion
9. New York Giants (NFL), valued at $4.3 billion
10. Bayern Munich (football), valued at $4.21 billion
Sholto Byrnes on Myanmar politics
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
The National selections
Al Ain
5pm: Bolereau
5.30pm: Rich And Famous
6pm: Duc De Faust
6.30pm: Al Thoura
7pm: AF Arrab
7.30pm: Al Jazi
8pm: Futoon
Jebel Ali
1.45pm: AF Kal Noor
2.15pm: Galaxy Road
2.45pm: Dark Thunder
3.15pm: Inverleigh
3.45pm: Bawaasil
4.15pm: Initial
4.45pm: Tafaakhor
Marathon results
Men:
1. Titus Ekiru(KEN) 2:06:13
2. Alphonce Simbu(TAN) 2:07:50
3. Reuben Kipyego(KEN) 2:08:25
4. Abel Kirui(KEN) 2:08:46
5. Felix Kemutai(KEN) 2:10:48
Women:
1. Judith Korir(KEN) 2:22:30
2. Eunice Chumba(BHR) 2:26:01
3. Immaculate Chemutai(UGA) 2:28:30
4. Abebech Bekele(ETH) 2:29:43
5. Aleksandra Morozova(RUS) 2:33:01
