IPL’s combined brand value exceeds $10 billion!, Delhi News in Hindi

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New Delhi. The total combined brand value of the Indian Premier League (IPL) has crossed the $10 billion mark. As of now, the brand value of IPL stands at $10.7 billion, compared to $8.4 billion in 2022, thus registering a growth of 28%.

A report by brand valuation consultancy Brand Finance said the overall brand value of the IPL has increased by 433 per cent since its launch in 2008. It said the IPL’s significant growth is attributed to factors including the $6.2 billion (Rs 48,390 crore) media rights deal, the increase in the central pool of IPL revenue, the inclusion of two franchise teams, and Covid-19. Full stadium attendance to return in 2023 after pandemic.

It further said that five-time champions Mumbai Indians have emerged as the most valuable IPL brand with $87 million, followed by five-time winners Chennai Super Kings (CSK), who are now the second most valued with $81 million. Valuable brand.

Other franchises in the top five list include two-time winners Kolkata Knight Riders (KKR) and Royal Challengers Bangalore (RCB) with $78.6 million and $69.8 million respectively.

IPL 2022 winners Gujarat Titans (GT) witnessed a massive rise in their brand value ranking with a 38 per cent increase to the fifth position, a huge jump from the eighth position last year.

Lucknow Super Giants (LSG) is ranked eighth with a brand value of $47 million and is now the fastest growing IPL brand with a growth of 48 per cent. The report said that despite starting from a relatively low base, LSG has made substantial progress in the valuation landscape.

IPL franchises are also continuing to expand their global presence, as the brand value of the franchised league ecosystem is estimated to reach $1 billion, increasing their visibility in the year to come. Teams like Mumbai, Delhi, Chennai, Lucknow, Sunrisers Hyderabad and Rajasthan Royals are in various franchise T20 leagues.

“IPL 2023 is paving the way for a global T20 business ecosystem as more and more franchise owners will take their cricket brands to new potential markets across the Middle East, Americas, Asia-Pacific. “Franchise owners are now looking at year-round commitments from players to various leagues played globally,” said Ajimon Francis, managing director, Brand Finance India.

–IANS

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