IPL brand valuation rises to Rs 134858 crore in 2024, most valued franchise is not Mukesh Ambani's MI, Shah Rukh's KKR
The increase in the value of IPL is helped by title sponsorship by salt-to-software Tata Group for a further five years (2024 to 2028) for approximately $300 million (Rs 2,500 crore), paying approximately 50 percent more than the previous deal.
The value of the Indian Premier League (IPL), India's biggest cricketing tournament, went up 6.5 percent to $16.4 billion (around Rs 1,34,858 crore) in 2024, according to a report by American investment bank Houlihan Lokey.
Besides, the brand value of the cash-rich T20 league has also increased 6.3 percent to $3.4 billion (around Rs 28,000 crore) year-on-year, it added.
The increase in the value of IPL is helped by title sponsorship by salt-to-software Tata Group for a further five years (2024 to 2028) for approximately $300 million (Rs 2,500 crore), paying approximately 50 percent more than the previous deal of Rs 335 crore per season.
The report further added, "This significant investment, coupled with last year's massive media rights auction, underscores the IPL's status as a pivotal platform for esteemed brands seeking to enhance their value."
Harsh Talikoti, Senior Vice President, of Corporate Valuation Advisory Services, Houlihan Lokey, said, "Today, the IPL commands widespread recognition, firmly entrenched as a household name with a robust brand recall among successive generations."
The report also states that the IPL, in itself, is valued as a legal business entity and separately as a brand. It takes into account the income and cash-generating capability of the IPL on a standalone basis.
The report states that Chennai Super Kings (CSK) continues to be the most valued IPL franchise. On the other hand, Kolkata Knight Riders (KKR) has seen the highest year-on-year growth.
"There has been a significant increase in franchise revenue over the years, primarily driven by revenue from television rights, despite each team having sponsorship revenue ranging from US$ 5-12 million. A major agreement was signed by Qatar Airways for around US$ 9 million (Rs 75 crore) for a three-year contract with Royal Challengers Bengaluru," the report said.
The second rank in terms of brand and business value goes to Royal Challengers Bengaluru (RCB) with a worth of $227 million, followed by Mumbai Indians (MI) with a brand value of $204 million.
Rajasthan Royals (RR) is in the fifth position with a brand value of $133 million.
The brand value for other IPL teams is as follows;
Sunrisers Hyderabad (SRH) - $132 million, stands sixth on the list
Delhi Capitals - $131 million
Gujarat Titans - $124 million
Punjab Kings (PBKS) - $101 million
Lucknow Super Giants- $91.0 million.
(With PTI inputs)