IPL 2024 was a huge success for Kolkata Knight Riders, with the Shah Rukh Khan-owned franchise winning its third title. The IPL, in general as an entity, has also grown a lot financially in the last year. Houlihan Lokey, a global investment bank, in its latest report stated that the commercial value of IPL has grown by 6.5 percent while its brand value has increased by 6.3 percent in the last one year. The report also revealed the brand value of IPL franchises and surprisingly, the star-studded Mumbai Indians or Royal Challengers Bengaluru are not the most valued team.
“Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, today published the 2024 IPL Brand Valuation Study, its comprehensive report on the commercial enterprise and brand values of the Indian Premier League (IPL),” a Press release from the bank said.
“According to the report, the value of IPL as a business has increased to US$16.4 billion, an increase of 6.5% (INR 135,000 crores), reflecting the league’s continued strength and global appeal. Brand value independent of IPL rose 6.3% to $3.4 billion (INR 28,000 crores) last year.
“The title sponsorship of IPL has been secured by the Tata Group for an additional period of five years, from 2024 to 2028, for approximately US$300 million (INR 2,500 crores), paying approximately 50% more than the previous agreement of INR 335 million per season. This, along with last year’s media rights auction, reinforces the IPL’s status as a key platform for esteemed brands looking to increase their value.
The Report added that the most valued IPL franchise is Chennai Super Kings.
“In terms of valuation, despite failing to reach the playoffs in 2024, with a brand value of 231.0 million dollars, Chennai Super Kings (CSK) continues to be the most valued franchisee, achieving growth of 9 % compared to the previous year. IPL 2024 winners Kolkata Knight Riders saw the highest growth with an increase of 19.30% compared to 2023,” the statement said.
Five-time champions Mumbai Indians are not even in the top three when it comes to brand value, the report added.
“Ranked second in brand and commercial value, Royal Challengers Bengaluru (RCB) has a
impressive mark worth US$227.0 million. Winners of TATA IPL 2024, Kolkata Knight Riders (KKR) replaced Mumbai Indians to secure third place in brand value with US$216.0 million.
“Mumbai Indians (MI), who are another immensely successful and popular team, are trailing fourth in the table with a brand value of US$204.0 million. With the return of their legacy player and new captain Hardik Pandya, MI has solidified its status as one of the most evolved franchisees in IPL history by paving the way for player negotiations,” the report said.
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