IPL brand value jumps to shocking numbers with MI named as most valuable side, reports

The Indian Premier League (IPL) 2024 auction is less than a week away. All 10 teams have made their strategies for the auction table as they are ready to get their players that have been listed on their notebooks and have some bidding wars with other teams as well to get that particular player. Ahead of the auction that is scheduled to take place in Dubai on December 19, the total brand value of the Ieague as per the report by Brand Finance, has increased 28% after the 2023 season, which is approximately 86,232 crore INR. 

The brand value of India's biggest sporting event has grown 433% since its inclusion in 2008. The report believes massive crowd support in stadiums, more viewership of the matches on the internet and televisions, and mega-media sponsors for the current year have seen an upsurge in the brand value of the annual cricket tournament.

As per the reports by the company, Mumbai Indians (MI) has been named as the most valuable franchise brand in the Indian Premier League, valued at $87 million. Chennai Super Kings (CSK) is second on the list with a brand value of $81 million. Kolkata Knight Riders (KKR), and Royal Challengers Bangalore (RCB) are next on the list having a brand value of $78.6 million and $69.8 million respectively. Next on the list is Gujarat Titans (GT) they jumped from 8th position last year to 5th. Its brand value increased 38% this year.

Bring renewed excitement to the IPL 2023 audience: Brand Finance

According to Brand Finance, the introduction of the Women's Premier League (WPL) has also boosted the respective brand values of the teams. The report said, "Notable changes, including 52 matchdays, the impact player rule, and the Decision Review System (DRS), bring renewed excitement to the IPL 2023 audience. Jio Cinema's innovative approach includes analytics-backed flexible pricing for advertisers, ensuring sustained marketer interest throughout the season."

"In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance."