The Chennai Super Kings (CSK) side has suffered a dip in the brand value due to the COVID-19 outburst and the team’s dismal show in the last edition of IPL.
While CSK has seen a dip of 16.5% with the value going down Rs 611 crore from Rs 732 crore, KKR’s brand value went down to Rs 543 crore from Rs 629 crore which is 13.75% as per Duffs and Phelps' annual IPL Brand Valuation Report.
Mumbai Indians who won the IPL 2020 are the most valued team in the IPL presently. They did see a hit of 5.9% from last year and are valued at 761 Crore. Punjab Kings also saw a dip of over 11% in its brand value.
The IPL suffered a dip of 3.6% in 2020. “Similar to the impact on other businesses and the overall economy, the pandemic led to a decline in the IPL ecosystem value. However, with people forced to spend time at home, there was an increase in IPL television viewership. The 2020 edition was a huge success for broadcasters as it broke viewership and advertising revenue records. Despite the challenging year, this momentum is indicative of how strong the IPL brand has become,” said Santosh N, External Advisor, Duff & Phelps India Pvt. Ltd.
The IPL 2021 is slated to begin from April 9 when the league’s most successful side MI will lock horns with three-time finalists RCB in Chennai in the opening match.