Virat Kohli-led Royal Challengers Bangalore (RCB) was announced the biggest gainer in terms of percentage of brand valuation for IPL 2016. The team's valuation rose 31 percent this year from $51 million in 2015 due to its on-field performance. The Shahrukh Khan-owned Kolkata Knight Riders (KKR) grabbed the second position as their valuation fell almost 10 percent to $77 million, according to Duff & Phelps, a global valuation and corporate finance advisor.
The brand value of the Indian Premier League (IPL) rose to $4.16 billion in the ninth season, the Economic Times reported. The latest season witnessed increased attention of viewers as well as advertisers. IPL's valuation for this year is 19 percent higher than last year, when it stood at $3.54 billion. The jump is despite the Indian rupee's depreciating levels against the U.S. dollar.
Among the teams, the Mumbai Indians (MI) team, which is owned by Mukesh Ambani, claimed the top position in terms of valuation. The team's valuation increased eight percent to $78 million as compared to $72 million in 2015.
On the other hand, the valuation of Sunrisers Hyderabad (SRH) rose about 17 percent; the Economic Times cited the report as saying.
Due to poor on-field performance and lack of crowd support, King XI Punjab (KXIP) were the biggest losers of the ninth season. The valuation reduced about 24 percent from $41 million in the previous year.
The latest season has relatively been free of controversy and has grabbed spotlight due to good performance by players. "Brand IPL not only came out of these controversies relatively unscathed but also surged forward to prove that is the most successful cricketing league in the world and one of the premier sporting events across the globe," Varun Gupta, the Managing Director at Duff & Phelps, was quoted as saying by the publication.
Two franchisees â€” Rising Pune Supergiants and Gujarat Lions â€” have not been valued by the finance advisor.
Sunrisers Hyderabad clinched the IPL 2016 title in Bangalore on May 30 after defeating Royal Challengers Bangalore (RCB).