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The Indian Premier League (IPL) has witnessed a remarkable surge in its financial prowess over the past year. According to a report released by global investment bank Houlihan Lokey, the IPL's business value has grown by an impressive 6.5%, reaching a staggering US$16.4 billion.
The report also highlighted the brand value of the individual IPL franchises. Surprisingly, the star-studded Mumbai Indians and Royal Challengers Bengaluru, two of the most popular teams in the league, were not the most valued teams. Instead, the honor went to Chennai Super Kings, with a brand value of US$231.0 million.
The Kolkata Knight Riders, who emerged as the champions of IPL 2024, experienced the highest growth in brand value, with a significant 19.30% increase compared to the previous year. This growth can be attributed to their impressive performance on the field, which culminated in their third IPL title.
The report also shed light on the lucrative title sponsorship deal secured by the Tata Group. The conglomerate signed a five-year agreement, from 2024 to 2028, to become the title sponsor of the IPL for approximately US$300 million, representing a 50% increase from the previous deal.
This substantial investment by the Tata Group reinforces the IPL's status as a pivotal platform for brands seeking to enhance their value. The league's global appeal and massive fan base make it an attractive proposition for companies aiming to reach a wide audience.
In conclusion, the Houlihan Lokey report provides valuable insights into the financial health of the IPL and its franchises. The league's continued growth and the impressive brand value of its teams are a testament to its enduring popularity and its position as one of the most valuable sporting events in the world.
Source: Rs 135, 000 Crore: Report Claims IPL's Business Value, Says MI Not Most Valued Team, It Is...