MI and CSK top franchises as IPL brand value zooms 28 percent to exceed $10 billion – Reports
The brand value of the cash-rich IPL has surged 28 percent to reach $10.7 billion in 2023, according to Brand Finance.
Following remarkable growth, the T20 league’s brand value has surged 433 percent since the inaugural season in 2008. The staggering rise comes on the back of a surge in viewership and stadium experience.
For the unversed, Brand Finance is the world’s leading independent brand valuation consultancy.
Five-time champions Mumbai Indians and Chennai Super Kings are among the top two IPL franchises in terms of brand value, with $87 million and $81 million, respectively.
Two-time winners Kolkata Knight Riders are third with $78.6 million brand value. Royal Challengers Bangalore, who have 11.6 million followers on Instagram, is valued at $69.8 million.
Gujarat Titans, which came into existence in 2022, has shown a remarkable rise in brand value, taking the fifth spot following 38 percent growth. Punjab Kings has the least brand value among IPL franchises at $45 million.
Brand value of IPL franchises in 2023
MI – $87 million
CSK – $81 million
KKR – $79 million
RCB – $70 million
GT – $65 million
Delhi Capitals – $64 million
Rajasthan Royals – $62 million
Sunrisers Hyderabad – $48 million
Lucknow Super Giants – US$47 million
PBKS – $45 million
“IPL 2023 is paving the way for a Global T20 business ecosystem” – Ajimon Francis
Ajimon Francis, Brand Finance India managing director, has said that the IPL is paving the way for Global T20 business.
He lauded the India-based franchises for growing in potential markets outside India – United States, United Arab Emirates and South Africa, among others:
“IPL 2023 is paving the way for a Global T20 business ecosystem! More and more Franchise owners will be taking their brand of cricket to newer potential markets in MEA, USA, APAC.”
He added:
“Franchise owners are now seeing year-long commitment from players for various leagues played globally. IPL in India itself is transforming into a platform that is fuelling a wider growth in the sports economy.”
For the unversed, several countries began T20 leagues following the success of India's T20 league.
Some of them are the Big Bash League (Australia), Pakistan Super League, SA20 (South Africa), ILT20 (UAE), Major League Cricket (USA), Super Smash (New Zealand) and The Hundred (England).