The Indian Premier League (IPL) has cemented its status as a premier global sports league, with its cumulative brand value rising 13% to $12 billion, as per the 17th Brand Finance IPL 2024 valuation report. The league, valued at $2 billion in 2009, crossed the $10-billion mark for the first time in 2023, reaching $10.7 billion, Brand Finance said.
In June, American investment bank Houlihan Lokey reported a 6.5% rise in the IPL’s overall business value, reaching $16.4 billion, with its standalone brand value growing by 6.3% to $3.4 billion.
However, a separate report by valuation services provider D and P Advisory in September said IPL’s business enterprise value fell by 11.7% to $9.9 billion in 2024, due to a reassessment of media rights amid media industry consolidation. According to Brand Finance, for the first time, four franchises-Chennai Super Kings (CSK), Mumbai Indians (MI), Royal Challengers Bengaluru (RCB), and Kolkata Knight Riders (KKR)-have crossed the $100 million mark in brand value.
The 2024 IPL brand rankings shows significant growth, with Chennai Super Kings leading at $122 million (52% growth), followed by Mumbai Indians at $119 million (+36%), highlighting the league’s growing global appeal and commercial success.
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RCB ranks third with a brand value of $117 million (+67%), followed by KKR and Sunrisers Hyderabad, valued at $109 million (+38%) and $85 million (+76%), respectively. SRH registered the fastest growth in brand value.
Among other teams, Rajasthan Royals grew by 30% to reach $81 million, while Delhi Capitals saw a 24% rise to $80 million. The newer franchises, Gujarat Titans and Lucknow Super Giants, have brand values of $69 million (+5%) and $60 million (+29%), respectively. Punjab Kings, with 49% growth, rounds out the top 10 at $68 million. The report highlights significant growth potential for the top five IPL teams, with opportunities to further grow their brand values to levels closer to major football leagues like the EPL, La Liga, Bundesliga, Serie A, and Ligue 1. The combined brand value of the top five IPL teams is $551 million, three times lower than the top teams in these football leagues, whose brand values range from $2.9 billion (Bundesliga) to $6.7 billion (EPL).
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Brand Finance India MD Ajimon Francis said IPL’s successful business model and match formats have inspired global leagues, boosting the Board of Control for Cricket in India’s (BCCI) influence and providing a vital platform for aspiring domestic players to showcase their talent.
“The IPL ecosystem is today worth $1.3 billion and is closely watched and emulated worldwide,” he said. “Franchise teams like CSK, MI, RCB, KKR, and RR are today global brands with their active participation in several T20 leagues across the globe.”
The Brand Finance report further highlights the IPL’s role as a transformative force in the sports industry, generating 1.25 million direct and indirect jobs in India and influencing markets across the UAE, Saudi Arabia, the US, and Australia.
