MS Dhoni-led Chennai Super Kings has sustained a considerable drop due to the COVID-19 pandemic and their underwhelming display in IPL 2020. Chennai Super Kings, who have been the most consistent team in the history of the marquee T20 league, did not reach the playoffs for the first time last year and finished seventh. As a result, the yellow army suffered a significant hit while Mumbai Indians capture top spot.
According to the Duffs and Phelps’ annual IPL Brand Valuation Report, Chennai Super Kings have been the biggest loser in terms of brand value. Alongside CSK, Kolkata Knight Riders’ value has diminished too. While Chennai Super Kings sustained a dip of 16.5% in their brand value, reducing it to INR 632 from 711 crores, KKR’s decreased 13.75% to INR 543 from 629 crores.
The lack of crowds at the stadium had an impact on the revenue loss from the franchises as well as the pandemic affected business tie-ups, culminating in the brand value of the franchises’ taking a hit. The 13th edition of IPL endured a loss of 3.6% in its brand value. Kings XI Punjab also suffered a drop of over 11% in its brand value. Nevertheless, IPL 2020 emerged as a success for the BCCI and other stakeholders, shattering viewership records.
Mumbai Indians capture the top position despite a significant dip:
Despite sustaining a dip of 5.9% in IPL 2020, the franchise is valued at INR 761 crores. Mumbai Indians enjoyed a stellar IPL year, lifting their fifth IPL title in the process. Rohit Sharma’s men will also open the IPL 2021 by squaring off in the tournament’s first match against the Royal Challengers Bangalore.