Chennai Super Kings' brand value falls by 16.5% ahead of IPL 2021: Report
The Chennai Super Kings (CSK) did not qualify for the playoffs in IPL 2020. Their dismal performance seems to have had a massive impact on the franchise's brand value, as CSK recorded the most significant fall among all teams.
Duff & Phelps prepared the IPL Brand Valuation Report 2020 to ascertain all eight IPL teams' brand values after the 2020 season. They compared the 2020 numbers with those of 2019.
2020 was a challenging year for everyone. The economic slowdown negatively impacted almost all businesses, and even the IPL's value decreased slightly.
In 2019, the competition's value was ₹47,500 crore, which has now come down to ₹45,800 crore.
The Chennai Super Kings held second position on the overall list of franchises. They were only behind defending champions Mumbai Indians. However, CSK experienced the steepest slash.
Here are the details of the changes in brand values of all eight franchises.
There were no alterations in the positions of the eight teams. But the brand values of Chennai Super Kings, the Punjab Kings, and the Kolkata Knight Riders fell by over 10%. Interestingly, none of the three teams qualified for the playoffs last year.
The Mumbai Indians attained the top spot with ₹761 crore. The Delhi Capitals, who made it to their first IPL final last year, had the least impact (-1%).
Meanwhile, Royal Challengers Bangalore and Sunrisers Hyderabad remain in the middle. The Rajasthan Royals got the last position on this list as well. Their brand value is now less than ₹250 crore.
Can the Chennai Super Kings improve their performance in IPL 2021?
The Chennai Super Kings narrowly avoided last place in the IPL 2020 points table. They finished just above the Rajasthan Royals with 12 points in 14 matches.
Although the squad did not perform up to the mark, the team owners released only a few under-performers before the auction.
Chennai Super Kings have added the likes of Moeen Ali, Krishnappa Gowtham, Cheteshwar Pujara and Robin Uthappa to their squad.
Even Suresh Raina is set to return this year. Hence, fans can expect a better performance from the MS Dhoni-led outfit in IPL 2021.