The brand value of each Indian Premier League (IPL) team dipped in 2020 owing to the coronavirus pandemic. IPL 2020 had to be postponed before it was held in the UAE. The tournament was conducted smoothly but the pandemic took a toll on the brand value of the teams. In fact, the brand value of the IPL also took a beating for the first time in six years.
IPL’s brand value went down by 3.6 per cent over one year. From Rs 47,500 crores in 2019, it fell to Rs 45,800 crores in 2020, according to Duff & Phelps, which specializes in brand valuation. Talking about the teams, the report further stated that five-time champions Mumbai Indians remain the most valuable franchise with a brand value of Rs 761 crores.
Their brand value, however, is down by 5.9 per cent from Rs 809 crores in 2019. The team which has suffered the highest dip in brand value is three-time IPL winners Chennai Super Kings. The Chennai-based outfit has suffered a dip of 16.5 percent. Their brand value is now at Rs 611 crore, down from Rs 732 crores after IPL 2019.
The factor that could have led to such a big dip for CSK was its poor outing in IPL 2020. The MS Dhoni-led side was without one of their biggest names – Suresh Raina – for the entire competition and failed to make it to the playoffs for the first time in their history.
Other teams see a dip too
Kolkata Knight Riders have seen the second-highest brand reduction at 13.7 per cent. Their value has gone down from Rs 629 crore to Rs 543 crore. They are third in the list of IPL teams with the biggest brand value. Talking about KKR’s performance, they too missed out on the playoffs and finished at the fifth spot in IPL 2020.
At number four in the brand value list are Royal Challengers Bangalore who suffered a dip of 9.9 percent. Their brand value has gone down from Rs 595 to Rs 536 crores. RCB made it to the playoffs last year. At number five are Sunrisers Hyderabad with a brand value of Rs 442 crores. They are followed by Delhi Capitals who have suffered the list dip in brand value at 1 percent.
The Delhi-based franchise made it to the final for the first time in IPL last year. Punjab Kings and Rajasthan Royals occupy the seventh and eighth spot respectively. Punjab Kings are valued at Rs 318 crores while Rajasthan Royals are valued at 249 crores.
Source: The source of this content is our cricket news platform Crictracker.
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