Forbes has released the list of IPL's most valuable teams, with five-time champions MI ranked first with a value of $1.3 billion. CSK ($1.15 billion) are second on the list, followed by KKR ($1.1 billion) and debutants LSG ($1.075 billion). DC complete the top five with $1.035-billion value. GT, who are playing their first season, are last with $850 million.