IPL Brand Study: MI & CSK Most Valuable, KKR Witnesses a Slump
The Indian Premier League (IPL) continues to yield rich dividends for its parent body, the Board of Control for Cricket in India (BCCI), in its twelfth year of existence.
The cash rich T20 league saw a jump of 13.5% in its brand value during its 12th edition, according to a report prepared by Duff & Phelps, a global valuation and corporate finance advisors. According to the report, the brand value of IPL rose from Rs 41,800 to Rs 47,500 crore during the same period.
However, when calculated in terms of USD, considering the fluctuation in exchange rate, the jump is confined to 7%, with the value escalating from US$6.34 billion to US$6.78 billion.
Mumbai Continue to Reign Big
A surge in IPL’s brand value which has more than doubled in the last six years didn’t have a similar effect on the teams playing in the league. While most saw good gains, some were not so lucky. According to the report, the on-field performances of the teams had a part to play in the increase and decrease of the brand value. Marketing strategy, celebrity influence and marquee players also had a big role to play among others.
Mumbai Indians continue to be the most valuable franchisee, according to the report, while Rajasthan Royals were least valuable. Chennai returned to the second spot on the brand table after a gap for five years to replace Kolkata Knight Riders, who along with Royal Challengers Bengaluru saw a massive drop in their valuation.
Leading the table since 2014, Mumbai Indians’ brand value saw an increase of 8.5%.
While they were valued at Rs 746 crore in 2018, the four-time IPL champions broke the Rs 800-crore barrier this year. They are currently valued at Rs 809 crore.
Their on-field successes, a team full of superstars like Rohit Sharma, Jasprit Bumrah, and Hardik Pandya have all contributed to the growth. Having the richest Indian as their owner and based in country’s cricket capital have only compounded their success.