IPL Brand Value Rises; Mumbai Indians, Delhi Capitals, and Chennai Super Kings Biggest Gainers
The brand value of Indian Premier League (IPL) has jumped 7 percent to USD 6.8 billion in 2019 as per recent reports. Finalists Mumbai Indians and Chennai Super Kings along with Delhi Capitals have been the biggest gainers in the latest editions.
Since the inception of the franchise-based T20 league in 2008, the tournament has grown with each passing year. BCCI introduced two more teams midway to make it a ten-team competition but it came down to eight once again.
The Mukesh Ambani-owned Mumbai Indians, who lifted their fourth IPL title beating Chennai Super Kings registered an 8.5 percent increase in valuation to Rs 809 crore. They are currently the most valued team in the competition as per recent reports.
On the other hand, India Cements-owned Chennai Super Kings’ value shot up 13.1 percent to Rs 732 crore. MS Dhoni-led Chennai have been the most successful team in the competition reaching the playoffs in every season they have played. The Jindals-co-owned Delhi Capitals saw it value increasing 8.9 percent to Rs 374 crore in the reporting year.
“Our assessment of the brand value of the various franchises also takes into consideration the effectiveness and transparency of their management teams,” the report said, adding controversies had impacted the brand earlier.
The report also added that it is important for the franchises to engage with the fans more often to increase their brand value. IPL franchises will hope to increase their share of profit by manifolds in the coming years.