Mumbai Indians continues to the best IPL team both on and off the field. As per a report by Duffs and Phelps, Mumbai Indians by a margin has emerged as the most valuable IPL team. On the other hand, MS Dhoni-led CSK’s brand power has drastically decreased as per the annual IPL Brand Valuation report by Duffs and Phelps.
CSK’s Brand Value Takes A Hit
The Chennai Super Kings had a disappointing IPL 2020 as they failed to qualify for the IPL playoffs. All eyes were on MS Dhoni who was featured in the biggest T20 league after announcing his retirement from international cricket. However, Dhoni had a mediocre season with the bat as CSK finished second last in the IPL 2020 table.
The performance of the IPL teams on the field reflected in their brand worth, as the report suggested some interesting changes. CSK have suffered a hit of 16.5%, with their brand value dipping to Rs 611 crore from Rs 732 crore. Also, KKR’s brand value has declined 13.75% to Rs 543 crore from Rs 629 crore.
Mumbai Indians Most Valuable IPL Team
Talking about 5 times IPL champions Mumbai Indians they continued their dominance as the franchise is valued at Rs 761 crore. Even though MI’s brand value also dropped by almost 6% their overall brand assessment was still higher than any other IPL team. Due to the COVID-19 pandemic the IPL 2020 was played behind closed doors in UAE which is why the league suffered a revenue loss of 3.6% last year.
“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
Meanwhile, the overall brand value of all other teams also dipped slightly but IPL is still the biggest brand in the cricketing world. The league broke all viewership record last season as the entire world was waiting for live cricket to begin after the Coronavirus pandemic break. Now IPL 2021 is all set to be played in India and it will kick start on April 9 in Chennai with the match of MI and RCB.