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IPL brand value up 9% at $3.8 bn; SRK’s KKR retains top slot at $58.6 mn
MUMBAI: The brand value of the Indian Premier League (IPL) continues to soar notwithstanding off-field controversies.
The ‘IPL System’, calculating the combined business values of all parts of the IPL, has grown 9% in 2017 to $3.8 billion compared to $3.5 billion in 2016, according Brand Finance research. This is the second-highest brand valuation of the IPL after the $4.1 billion it achieved in 2010.
Brand Finance, which has been conducting brand valuation of the IPL since 2009, attributed the growth to stakeholders’ renewed confidence in the IPL management following the appointment of the BCCI’s Committee of Administrators (CoA), as well as to a number of innovations in fan experience and pure cricketing excellence, all driving up the interest and participation in the tournament.
Shah Rukh Khan-owned Kolkata Knight Riders has emerged as the most valuable franchise at $58.6 million. This indicates a growth of 24%, which is the fastest year-to-year growth of the franchise. KKR has topped the Brand Finance IPL league table for the second year in a row.
Closely following KKR is Mumbai Indians, the franchise owned by India’s richest man Mukesh Ambani. Mumbai Indians has seen a 17% growth in brand valuation to $54.1 million.
Sunrisers Hyderabad (SRH) has moved up to the third position with a 23% growth in brand value at $46.5 million. It was at the fourth position last year.
With a brand value of $44.4 million, up only 4% year on year, Royal Challengers Bangalore (RCB) has fallen to fourth place. The RCB is the only franchise brand whose strength waned this season.
Delhi Daredevils (DD) held on to its fifth place in the study with a brand value of $40.5 million, following growth of 13%.
Kings XI Punjab has a brand value of $36.2 million, putting it in the last place. However, solid 18% growth hints at the brand’s relative success this year.