One of the most decorated franchises of the Indian Premier League (IPL), the Chennai Super Kings (CSK), have suffered a huge loss in their market value due to the uncertainty around IPL 2020. The 13th edition was scheduled to start from March 29 this year. But, due to the outbreak of the coronavirus pandemic, the BCCI postponed it until April 15.
Things don’t look good for the cash-rich league in the future as well because the situation is worsening day by day. This has sent India into a 21-day lockdown that began from March 25 and will last till April 14. However, the lockdown may be extended due to the worsening conditions and IPL 2020 seems nothing but cancelled amid the lockdown.
The pandemic has not only affected the sporting activities but also the financial aspects related to the game as well. CSK have registered a loss of Rs.200 Crore in their market value because of the uncertainty surrounding IPL this year.
CSK Market Value Drops By INR 200 Crore
CSK has to suffer huge losses due to the uncertainty around IPL 2020. Their shares are getting traded at a rate of INR 24 each at a market value of INR 800 crores in the informal market. Earlier, their estimated value was INR 1000 xrores. An investment banker in the know of things said that it is because of the coronavirus effect on the cash-rich league.
“The last trades in CSK have happened at Rs 24, much lesser than the Rs 30 that happened a few months ago. Obviously, this is the impact of the likely cancellation of IPL 2020 on the team’s valuations,” an investment banker said as quoted by Economic Times.
According to Duff & Phelps reports in 2019, Mumbai Indians had the highest brand value among all the teams in IPL that was around INR 809 Crores followed by CSK whose brand value was INR 732 Crores and Kolkata Knight Riders’ (KKR) value of INR 629 Crores.
CSK Has Been One Of The Most Successful Franchises Of The League
The Chennai Super Kings have been one of the most successful franchises of the tournament so far. CSK has won a total of three IPL titles until now. Their first title came in the year 2010. They retained the title in 2011. The 3rd title, however, was the most important as they won it in their comeback season in 2018 after a two-year ban.
In addition to the three IPL titles, CSK has also won a couple of CLT20 titles as well. The Chennai-based franchise has played in a total of eight IPL finals in the 12 seasons so far. This goes on to show the level of domination they have had in the most popular and most competitive franchise T20 league tournament in the world.