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Indian Premier League(IPL) is one of the biggest cricketing events held annually. Since 2008, we witnessed a massive growth in audience, viewership, sponsorships, and the money invested every year in this tournament.
Franchise values and businesses have grown rapidly. American Investment Banker Holian Lokey valued IPL’s business at USD 16.4 Million(approx. 134,858 crores), a 6.5% increase from the previous year. While standalone brand value is around $3.4 Billion(around Rs 28,000 crore), which is up by 6.3% from the previous year.
Why IPL Is Growing Fast?
One reason for this growth is the record-breaking $300 Million sponsor deal with Tata Group for hosting IPL for 5 years between 2024 and 2028. This is 50% higher than the previous sponsorship agreements.
Another reason can be the record media rights deals worth Rs 48000 crore(approx.) signed in 2022. Brands have started viewing IPL as the ultimate platform to enhance their value through advertising. Viacom 18 confirmed that over 620 Million users streamed IPL this year, compared to 449 Million in the previous season.
Which Is The Most Valued Franchise Of IPL?
- Among the franchises, Chennai Super Kings (CSK) has emerged as the most valued franchise with a brand value of $231 Million, growing by 9% since last year.
- Royal Challengers Banglore(RCB) ranked 2nd on the list with a brand value of $ 227 million.
- The 3rd is 2024 winners Kolkata Knight Riders(KKR) saw the highest growth, valued at $216 million which is 19.6% growth Year on Year(YoY).
- Mumbai Indians ranked 4th with a brand value of $204 Million.
- Meanwhile, Lucknow Giants was considered the least-valued franchise worth around $91 Million, and the only team valued under the $ 100 million mark.
CSK Retains Its No 1 Franchise Tag In IPL.
Chennai Super King has retained its number-one tag when it comes to franchise valuation.This can be attributed to many reasons including but not limited to:
- Loyal Fan Base: CSK has a massive dedicated fan base around the country.They often travel with them in different cities. This adds to their brand value.
- Dhoni’s reputation: MS Dhoni has a huge following all over the globe.This creates more eyeballs in terms of match viewership directly increasing their sponsorship revenue.
- 65% Rise in YoY Profits: For FY 22-23, CSK reported a 65% increase in Profit After Tax(PAT) at 52.2 crore, as against 31.5 crore in FY 21-22.
CSK has not yet released its FY 23-24 annual report. But with the current report about csk market value, the csk shares appear a gainful investment.
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