The Mumbai Indians registered the highest brand value of the Indian Premier League’s (IPL) eight franchises in 2020, according to a new study by brand valuation agency Brand Finance.
The analysis noted that the winners of last year’s event were the only IPL team to register growth during the T20 cricket tournament’s Covid-hit 13th edition as their brand value climbed 7.1 per cent to US$70.3 million.
Despite the financial impact of the pandemic, Mumbai still managed to secure new multi-year partnerships with four global brands – Marriott Bonvoy, Colgate, Cadbury Dairy Milk and William Lawson’s – ahead of the 2020 season, while retaining deals with the likes of Samsung, Colors, Jio and Usha.
The continued growth means Mumbai’s brand value has climbed 69 per cent since the IPL’s inception in 2009, when their valuation stood at US$41.6 million.
2019 champions the Chennai Super Kings were next on the list, but suffered the biggest drop in their brand value, which fell just over 20 per cent to US$59.8 million. Rounding out the top five were the Kolkata Knight Riders (US$58.4 million), Sunrisers Hyderabad (US$57.4 million) and the Delhi Capitals (US$52.2 million).
All told, Brand Finance estimates that the IPL’s brand value dropped 22 per cent to US$4.4 billion as a consequence of the pandemic, which resulted in the 2020 edition of the tournament being staged later in the year in the United Arab Emirates (UAE).
Mumbai was also top in the study’s Brand Strength Index (BSI), which measures brand investment, stakeholder trust and on-field performance, scoring 76.9 out of 100 to achieve an AA+ brand strength rating.
John Stephenson
john@cricketinvestor.co.uk
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