5 months ago
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The IPL 2024 was huge success for Kolkata Knight Riders, with the Shah Rukh Khan-owned franchise winning its third title. IPL, overall as an entity, has grown manifold financially too in the past one year. Houlihan Lokey, a global investment bank, in its latest report has said that IPL's business value grew by 6.5 per cent while its brand value increased by 6.3 per cent over the past one year. The report also said revealed the IPL franchises' brand value and surprisingly the star-studded Mumbai Indians or Royal Challengers Bengaluru are not the most valued team.
"Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, today issued the 2024 IPL Brand Valuation Study, its comprehensive report into the business enterprise and brand values of the Indian Premier League (IPL)," a press release from the bank said.
"According to the report, the value of IPL as a business has surged to US$16.4 billion, up by 6.5% (INR 135,000 crores), reflecting the continued strength and global appeal of the league. The stand-alone brand value of the IPL has increased by 6.3% to US$3.4 billion (INR 28,000 crores), over the past year.
"The title sponsorship for the IPL has been secured by the Tata Group for a further five-year period, from 2024 until 2028, for approximately US$300 million (INR 2,500 crores), paying approximately 50% more than the previous deal of INR 335 crores per season. This, along with last year's media rights auction, reinforces the IPL's status as a pivotal platform for esteemed brands seeking to enhance their value."
The Report added that the most valued IPL franchise is Chennai Super Kings.
"In terms of valuation, despite failing to make it to the playoffs in 2024, with a brand value of US$231.0 million, Chennai Super Kings (CSK) continues to be the most valued franchisee, achieving a growth of 9% from the previous year. IPL 2024 winners, Kolkata Knight Riders, saw the highest growth, with a 19.30% rise from 2023," the release stated.
Five-time champions Mumbai Indians are not even in the top three, when it comes to brand value, the report added.
"Ranked second in brand and business value, Royal Challengers Bengaluru (RCB) boasts a
staggering brand worth of US$227.0 million. Winners of the TATA IPL 2024, the Kolkata Knight Riders (KKR) has replaced Mumbai Indians to secure the third place in brand value with US$216.0 million.
"Mumbai Indians (MI), which is another immensely successful and popular team, closely trails in fourth place on the table with a brand value of US$204.0 million. With the return of its legacy player and new captain Hardik Pandya, MI has solidified its status as one of the most evolving franchisees in IPL history, paving a path to player trades," the report said.
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