Rs 135,000 Crore: Report claims commercial value of IPL, says MI is not the most valued team, it's…

IPL 2024 Business Value: IPL is one of the most expensive sporting events in the world.© BCCI/IPL

IPL Brand Value: IPL 2024 was a huge success for Kolkata Knight Riders with the Shah Rukh Khan-owned franchise winning its third title. IPL, as a whole, as an entity, has also seen considerable financial growth over the past year. Houlihan Lokey, a global investment bank, said in its latest report that IPL's business value increased by 6.5 percent while its brand value increased by 6.3 percent during the last year. The report also states that the brand value of IPL franchises is revealed and surprisingly, Mumbai Indians or Royal Challengers Bengaluru are not the most valued team.

“Houlihan Lokey, Inc. (NYSE: HLI), the global investment bank, today released the IPL 2024 Brand Valuation Study, its comprehensive report on the business enterprise and brand values of the Indian Premier League (IPL),” Press release of the bank said.

“According to the report, IPL's value as a company jumped to $16.4 billion, up 6.5% (INR 135,000 crore), reflecting the continued strength and global appeal of the league. The IPL's standalone brand value grew 6.3% to US$3.4 billion (INR 28,000 crore) over the past year.

“The title sponsorship of the IPL was secured by the Tata Group for a further period of five years, from 2024 to 2028, for approximately US$ 300 million (INR 2,500 crore), which is 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 vital platform for esteemed brands looking to grow. their value.

The report adds that the most loved IPL franchise is Chennai Super Kings.

“In terms of valuation, despite failing to qualify for the playoffs in 2024, with a brand value of US$231.0 million, Chennai Super Kings (CSK) continues to be the most valuable franchisee, achieving 9% growth over the previous year. IPL 2024 winners Kolkata Knight Riders saw the highest growth, with an increase of 19.30% compared to 2023,” the statement said.

Five-time champions Mumbai Indians are not even among the top three in terms of brand value, the report added.

“Ranked second in terms of brand and commercial value, Royal Challengers Bengaluru (RCB) has a
a staggering brand worth a whopping US$227.0 million. Winners of the TATA IPL 2024, Kolkata Knight Riders (KKR) replaced Mumbai Indians to secure the third spot in brand value with US$ 216.0 million.

“Mumbai Indians (MI), which is another extremely successful and popular team, is at the fourth place in the rankings with a brand value of US$ 204.0 million. With the return of its former player and new captain Hardik PandyaMI has cemented its status as the most scalable franchisee in the history of the IPL, paving the way for player exchanges,” the report said.

Topics mentioned in this article

Leave a Reply

Your email address will not be published. Required fields are marked *