[ad_1]
Kolkata Knight Riders had a successful season in IPL 2024, clinching their third title under the ownership of Shah Rukh Khan. The overall financial growth of IPL as a league has been remarkable over the past year. According to a report by global investment bank Houlihan Lokey, IPL’s business value increased by 6.5%, and its brand value also saw a 6.3% growth. Surprisingly, the most valued franchise is not the star-studded Mumbai Indians or Royal Challengers Bangalore.
“Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, recently released the 2024 IPL Brand Valuation Study, highlighting the business enterprise and brand values of the Indian Premier League (IPL),” as mentioned in a press release from the bank stated.
The report reveals that IPL’s business value has reached US$16.4 billion, marking a 6.5% increase (INR 135,000 crores), showing the league’s continued strength and global appeal. The stand-alone brand value of IPL has also risen by 6.3% to US$3.4 billion (INR 28,000 crores) over the past year.
The Tata Group secured the IPL title sponsorship for the next five years, from 2024 to 2028, for approximately US$300 million (INR 2,500 crores). This deal, along with the previous year’s media rights auction, solidifies IPL’s position as a key platform for renowned brands looking to enhance their value.
The report identifies Chennai Super Kings as the most valued IPL franchise, with a brand value of US$231.0 million, experiencing a 9% growth from the previous year. Kolkata Knight Riders, the winners of IPL 2024, saw the highest growth rate at 19.30% from 2023.
Mumbai Indians, a five-time champion, did not make it to the top three in terms of brand value. Royal Challengers Bangalore secured the second position with a staggering brand value of US$227.0 million, while Kolkata Knight Riders replaced Mumbai Indians to claim the third spot with US$216.0 million in brand value.
“Mumbai Indians (MI), a highly successful and popular team, closely follows in the fourth position on the table with a brand value of US$204.0 million. With the return of their legacy player and new captain Hardik Pandya, MI continues to evolve as one of the prominent franchises in IPL history, paving the way for player trades,” the report noted.
Topics mentioned in this article
