The Indian Premier League (IPL) has achieved decacorn status, with an overall brand value surpassing the $10 billion mark. Currently standing at $10.7 billion, the IPL's brand value has seen a remarkable 28% increase from $8.4 billion in 2022.
A report from brand valuation consultancy
Brand Finance
reveals that the IPL's total brand value has skyrocketed by 433% since its inception in 2008.
This exceptional growth is attributed to several factors, including a $6.2 billion (INR 48,390 crore) media rights deal, an expansion of the central pool of IPL revenues, the addition of two franchise teams and the resumption of full stadium attendance in 2023 post the Covid-19 pandemic.
The report highlights that Mumbai Indians, with five championships, lead the pack as the most valuable IPL brand at $87 million, followed closely by Chennai Super Kings (CSK) at $81 million, another five-time champion.
Rounding out the top five are Kolkata Knight Riders (KKR) and Royal Challengers Bangalore (RCB) at $78.6 million and $69.8 million, respectively. IPL 2022 winners Gujarat Titans (GT) experienced significant growth, boasting a 38% increase in brand value and securing the fifth position, a notable jump from eighth place the previous year.
Lucknow Super Giants (LSG) claim the eighth spot with a brand value of $47 million, emerging as the fastest-growing IPL brand with a remarkable 48% increase. Despite starting from a relatively lower base, LSG has made substantial strides in the valuation landscape, according to the report.
Furthermore, IPL franchises continue to expand their global presence, contributing to an estimated $1 billion brand value for the franchise leagues ecosystem. Teams like Mumbai, Delhi, Chennai, Lucknow, Sunrisers Hyderabad and Rajasthan Royals are actively participating in various franchise T20 leagues, further enhancing their visibility on the global stage.
“IPL 2023 is paving the way for a global T20 business ecosystem as more and more franchise owners will be taking their brand of cricket to newer potential markets in the Middle East, USA, Asia-Pacific. Franchise owners are now seeing a year-long commitment from players for various leagues played globally," said Ajimon Francis, Managing Director, Brand Finance India.
(With IANS inputs)
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