Kolkata knight riders
Image Source: IANS
IPL Becomes A Decacorn As Its Combined Brand Value Crosses 10 Billion Dollars: Report
The Indian Premier League: The Indian Premier League (IPL) has become a decacorn as the overall combined brand value has crossed the 10 billion dollars mark. As of now, IPL’s brand value stands at 10.7 billion dollars, as compared to 8.4 billion dollars in 2022, thus registering an increase by 28%.
A report by brand valuation consultancy Brand Finance said the total brand value of the IPL has surged by 433 per cent since its launch in 2008. It added that the IPL’s significant growth is attributed to factors including a media rights deal amounting to 6.2 billion dollars (INR 48,390 crore), an increase in the central pool of IPL revenues, the addition of two franchise teams, and the return to full stadium attendance in 2023 after the Covid-19 pandemic.
It further said five-time champions Mumbai Indians have emerged as the most valuable IPL brand at 87 million dollars, followed by fellow five-time winners Chennai Super Kings (CSK), which is now the second most valuable brand with a value of 81 million dollars.
