Picture Credit: BCCI/IPL
The Coronavirus pandemic affected to global economy in the year 2020 and sports sector took most of the brunt. The brand value of Indian Premier League (IPL) along with all eight franchises dipped in 2020 owing to the pandemic. According to Duff & Phelps report, IPL’s brand value went down by 3.6 per cent in 2020. From Rs 47,500 crores in 2019, it crashed to Rs 45,800 crores in 2020.
Mumbai Indians continues to dominate despite fall
Despite taking a dip by 5.9 per cent, Mumbai Indians remains the most valuable franchise with a brand value of Rs 761 crores. Meanwhile, CSK, who had a disastrous season last year, suffered the highest dip of 16.5 percent. Their brand value is now at Rs 611 crore, down from Rs 732 crores after IPL 2019.
More dip than rise for other teams
Kolkata Knight Riders saw the second-highest brand reduction at 13.7 per cent. Their value has gone down from Rs 629 crore to Rs 543 crore.
Royal Challengers Bangalore, are at number 4 and suffered a dip of 9.9 percent. Their brand value has gone down from Rs 595 to Rs 536 crores. Comes at number 5 is Delhi Capitals who have suffered the dip of 1 percent.
Meanwhile, Punjab Kings and Rajasthan Royals occupy the seventh and eighth spot, with brand value of Rs 318 crores and 249 crores, respectively.