Chennai Super Kings’ (CSK) brand value has taken a tumbling due to the COVID-19 pandemic as well as their disastrous campaign in IPL 2020. One of the most successful and popular teams in the tournament since its inception, the MS Dhoni-led had failed to do well in IPL 2020 which was held in the UAE. CSK struggled for consistency throughout the season and eventually finished at the seventh spot in the eight-team competition.
The three-time IPL winners failed to make it to the playoffs for the first time in the history of IPL. CSK were the first team to be eliminated from the playoffs race and were looking set to end the season at the bottom of the points table. However, they managed to avoid the last place finish after winning their last three league games. Overall, they managed six wins in 14 league games.
And the poor show in the last edition of the competition has affected CSK’s brand value. According to Duffs and Phelps’ annual IPL Brand Valuation Report, CSK are the biggest loser in terms of brand value. Along with CSK, Kolkata Knight Riders’ (KKR) brand value has taken a hit too. KKR had also missed out on the playoffs last year. While CSK have suffered a hit of 16.5%, with their brand value dipping to Rs 611 crore from Rs 732 crore, KKR’s brand value has declined 13.75% to Rs 543 crore from Rs 629 crore.
Mumbai Indians remain the most valuable IPL side:
Defending champions Mumbai Indians continue to remain the most valuable IPL franchise. The Mumbai-based outfit defended its title last year and won a record fifth IPL title. Though their brand value also took a hit of 5.9% from last year, the franchise is valued at Rs 761 crore. The reasons behind the decline in brand value for Mumbai Indians were the absence of crowds at the stadiums and the pandemic.
“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.
Source: The source of this content is our cricket news platform Crictracker.
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