In its 15th year, the Indian Premier League (IPL) has seen its brand value increase by 77 percent to $8.4 billion in 2022, thanks to a new media rights auction and the addition of two new teams, the Gujarat Titans and the Lucknow Super Giants.
Following the media rights auction in June, the IPL was named the world’s second most valuable sports league. The tournament’s rights value surpassed Rs 48,000 crore for the 2023-2027 cycle, making it the world’s fastest-growing sports league.
The additional revenue from the central pool beginning in 2023 has increased the brand value of franchises. Mumbai Indians recorded a 4 percent increase in brand value this year as against that of 2021 and continues to be the most valuable brand at $83 million, followed by Kolkata Knight Riders and then Chennai Super Kings with valuations of $76.8 million and $73.6 million.
According to a Brand Finance report, the brand IPL has grown 318 percent in brand value since its launch in 2009, from around $2 billion to over $8 billion this year.
The addition of two new franchise teams has increased the value of the IPL by nearly Rs 12,500 crore ($1.5 billion).