IPL brand value jumps to $10.7 billion after 2023 season; Check out the most valuable franchise

India's premier sporting event, the Indian Premier League (IPL), has been steadily growing year after year. Since its inception in 2008, the franchise T20 cricket league has served as a platform for players across the globe to showcase their talent. However, it is not limited to that as the tournament has a mixed business model of cricket, entertainment, and revenue generation. 

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According to brand valuation consultancy Brand Finance, the cash-rich league's brand value has grown 433% since its launch in 2008. Notably, after the 2023 season, IPL's brand value has increased by a staggering 28% to $10.7 billion (roughly Rs. 89,232 crore). The value in 2022 was $8.4 billion. 

The report credited various aspects for this growth: full-capacity stadiums, increased viewership consumption on the Internet and other modes, massive media partnerships, and renewed confidence among advertisers. 

In addition, Brand Finance noted that some key changes, including the Impact Player rule and the DRS system, have boosted excitement among the audience. "Notable changes, including 52 matchdays, the impact player rule, and the Decision Review System (DRS), bring renewed excitement to the IPL 2023 audience."

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Franchise brand value

The report rated five-time champions Mumbai Indians (MI) as the most valuable franchise brand in the IPL, valued at $87 million. MS Dhoni-led Chennai Super Kings (CSK) is in second place with a brand value of $81 million. Two-time champions Kolkata Knight Riders (KKR) came third with $78.6 million, while yet-to-be-titled Royal Challengers Bangalore (RCB) came fourth with $69.8 million. 

Gujarat Titans (GT), which debuted in 2022 and appeared in two consecutive finals, has gained the most in terms of brand value. The Ahmedabad-based franchise rose to the 5th position with a 38% increase from the 8th position last year. Rajasthan Royals (RR) have managed to consistently build their brand of cricket. Lucknow Super Giants (LSG) took the eighth position with a value of $47 million – a massive growth of 48%.

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Meanwhile, with a rating of AAA-, defending champions CSK emerged as the strongest IPL brand in 2023. "According to this analysis, Chennai Super Kings is the strongest IPL brand, earning AAA- rating with a Brand Strength Index (BSI) score of 81.8 out of 100," the report said.