MS Dhoni led CSK to IPL 2023 title© BCCI/Sportzpics
The Indian Premier League is undoubtedly the most lucrative T20 cricket leagues across the globe. Both in terms of the revenues that the Board of Control for Cricket in India (BCCI)-backed franchise generates and the fan-following it enjoys, there isn't another cricket league in the world that can compete with the IPL. With the popularity of the IPL and its revenues, even the brand value of its franchises has grown leaps and bounds. But, which franchise has the biggest brand value of all?
In a report released by Houlihan Lokey, the brand value of all 10 franchises has been evaluated. Not surprisingly, it's the MS Dhoni-led Chennai Super Kings who lead the charts with a valuation of USD 212 million, followed by Virat Kohli-starrer Royal Challengers Bangalore (USD 195 million) and Rohit Sharma's Mumbai Indians (USD 190 million).
Franchise | brand value 2022 (in $ million) | brand value 2023 (in $ million) | change:
- CSK | 146 | 212 | 45.2%
- RCB | 128 | 195 | 52.3%
- MI | 141 | 190 | 34.8%
- KKR | 122 | 181 | 48.4%
- DC | 83 | 133 | 60.2%
- SRH | 81 | 128 | 58.02%
- RR | 59 | 120 | 103.4%
- GT | NA | 120 | NA
- PBKS | 63 | 90 | 42.85%
- LSG | NA | 83 | NA
CSK, the joint-most successful franchise in the league, arguably has the biggest fanbase in India, all thanks to the popularity of MS Dhoni. As for RCB, Virat Kohli remains the biggest crowd-puller in the team.
"Chennai Super Kings has established itself as an iconic brand in the IPL. Probably the most consistent team, they have been in the finals for a remarkable 10 times out of the 14 seasons they have played, winning five titles. The team has a cult pan-India fan following. Captain Mahendra Singh Dhoni has been a big factor in the team's success, creating a strong brand identity that resonates with cricket enthusiasts across India. Due to these factors, CSK is able to command a premium from its sponsors. The team's branding elements, fan engagement strategies, and CSR initiatives have all contributed to its enduring success and popularity. With a brand value of US$212.0 million, growing year-on-year (y-o-y) at 45.2%, CSK is ranked No. 1 in both brand ranking and the business enterprise value ranking," the report reads.
"Royal Challengers Bangalore is second in terms of brand and enterprise value ranking, with a brand value of US$195.0 million, growing by 52.3% from 2022, surpassing Mumbai Indians. RCB is one of the most popular franchises in the IPL, well known for its passionate fan base and flamboyant team identity. Along with CSK, RCB is hugely popular pan-India and also on social media, with massive fan engagements during the year that allow fans to stay connected with their team. The presence of Virat Kohli, probably the best batsman of this generation, adds a distinct aura to RCB. RCB's ability to connect with fans on an emotional level and its consistent efforts to build a strong brand have contributed to its enduring popularity, which has also helped in bringing marquee sponsors to the team at premium pricing. The recent multi-year Qatar Airways sponsorship deal is testimony to this fact," the report stated in refernce to the Bengaluru franchise.
The report explained its valuation methodology by considering "the income and cash-generating capability of the IPL on a stand-alone basis."
Overall, the report values the Indian Premier League at USD 15.4 billion.
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