virat kohli

NEW DELHI: The value of the Indian Premier League (IPL) increased by 6.5 per cent, reaching USD 16.4 billion (approximately Rs 1,34,858 crore) in 2024, as reported by American investment bank Houlihan Lokey.The brand value of the lucrative T20 league saw a 6.3 per cent rise, climbing to USD 3.4 billion (around Rs 28,000 crore) year-on-year.The increase in IPL’s value is driven by a significant title sponsorship agreement with Tata Group, spanning five years from 2024 to 2028, worth roughly USD 300 million (Rs 2,500 crore). The Tata Group is paying about 50 per cent more than the previous deal of Rs 335 crore per season.“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,” the report highlighted.Beyond major events like the Olympics, FIFA World Cup, and Cricket World Cup, the IPL is unique in its ability to engage over a billion people globally, extending its appeal beyond the Indian subcontinent.Brand value encompasses the monetary worth of intangible assets, including trade names and trademarks.Harsh Talikoti, Senior Vice President, 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.” According to the report, IPL has been evaluated both as a legal business entity and as a brand. The assessment considered the standalone income and cash-generation potential of the IPL.The Chennai Super Kings (CSK) remain the most valued IPL franchise, while the Kolkata Knight Riders (KKR) experienced the highest annual 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 USD 5-12 million. A major agreement was signed by Qatar Airways for around USD 9 million (Rs 75 crore) for a three-year contract with Royal Challengers Bengaluru,” the report said.Ranking second in terms of brand and business value is the Royal Challengers Bengaluru (RCB) with a worth of USD 227 million, followed by the Mumbai Indians (MI) with a brand value of USD 204 million.Rajasthan Royals (RR) secured the fifth position with a brand value of USD 133 million.“RR also had the majority of sponsors on their roster renewing their association, showcasing its attractiveness as one of the fastest-growing brands within the IPL ecosystem. These factors helped RR jump two places to the fifth spot,” it said.Sunrisers Hyderabad (SRH), with a brand value of USD 132 million, stands sixth on the list.“Having done exceptionally well at the auction and developing a new squad under the leadership of Pat Cummins, SRH managed to pick the stars of the recently concluded World Cup that contributed to the franchisees’ great performance,” the report said.Delhi Capitals, benefiting from the return of its captain and most marketable asset, Rishabh Pant, ranked seventh with a brand value of USD 131 million.The Gujarat Titans are ranked eighth with a brand value of USD 124 million. Meanwhile, Punjab Kings (PBKS) hold a brand value of USD 101 million, and Lucknow Super Giants have a brand value of USD 91.0 million, the report concluded.(With inputs from PTI)