A GLOBAL INVESTMENT BANK has identified Chennai Super Kings as the most valuable IPL franchise in its recently published market value analysis report.
Houlihan Lokey, in the report, said that CSK's value in 2023 is at 212 million USD, jumping from a valuation of 146 million USD in 2022.
This has put CSK substantially ahead of Royal Challengers Bangalore, who according to the report are worth 195 million USD.
Interestingly, the report says RCB experienced one of the sharpest growths in 2023, overtaking Mumbai Indians (190 million USD) in market value. MI were the second most valuable team in 2022, according to Houlihan Lokey.
Although the report shows every IPL franchise experiencing substantial growth in terms of value over the last year, it has special words of praise for CSK. The report says,
"CSK has established itself as an iconic brand in the IPL and leads the brand valuation table with a value of US $212 million in 2023, witnessing a growth of 45.2% y-o-y from US$146 million in 2022. Captain Mahendra Singh Dhoni has been a major factor in the team’s success, creating a strong brand identity that resonates with cricket enthusiasts across India."
About RCB, the report lays out its analysis,
"Its brand value grew by 52.3%... RCB is hugely popular across India and on social media, with the presence of Virat Kohli, probably the best batsman of his generation, adding a distinct aura to the franchise. Its consistent efforts to build a strong brand and connect with supporters have contributed to its enduring popularity, which has also helped in bringing marquee sponsors at premium pricing."
Among the newer franchises, the report identifies Gujarat Titans as one of the most promising,
"Gujarat Titans is fast emerging as a popular brand that sponsors are keen to associate with. Winning the title in its very first season and finishing as finalists in IPL 2023 has enhanced its brand recognition. Playing its home games at the 132,000-seat stadium in Ahmedabad andled by the hugely popular all-rounder Hardik Pandya, we expect to see GT bridge the current gap with the top four brands in the IPL. However, GT’s massive cost outlay in terms of the franchise fee payments, which are required to be made to the BCCI every year, impacts its enterprise value."