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IPL's brand value growing and growing- ET Cetera-News By Industry-News-The Economic Times
A new study carried out by a UK-based brand valuation consultancy, exclusively for ET, affirms the IPL’s cash-cow prowess, so much so that it threatens to eclipse the English Premier League, the copybook used by Mr Modi to launch the event. As an enterprise, IPL’s overall brand value has more than doubled to $ 4.1 billion, or Rs 18,998 crore, in 2010 from a year ago, says Brand Finance. The only such comprehensive analysis of the IPL puts the combined brand value of all franchises at $333 million, or Rs 1,542 crore.
IPL’s sweeping popularity in a cricket-crazy nation has unlocked unprecedented value for its owner, BCCI, and the eight team franchises. With two more teams in from 2011, Brand IPL is set for another big commercial leap. The Brand Finance study has treated IPL as a single commercial entity, aggregating the income that BCCI and the franchises will generate, and their expenditure. All cross-charged income and expenditures have been ignored to arrive at the total worth, which it terms as the IPL Branded System (see graphic for methodology).
IPL’s sweeping popularity in a cricket-crazy nation has unlocked unprecedented value for its owner, BCCI, and the eight team franchises. With two more teams in from 2011, Brand IPL is set for another big commercial leap. The Brand Finance study has treated IPL as a single commercial entity, aggregating the income that BCCI and the franchises will generate, and their expenditure. All cross-charged income and expenditures have been ignored to arrive at the total worth, which it terms as the IPL Branded System (see graphic for methodology).
Still, there are some gathering clouds. Sustaining the brand commercially will be a challenge, notes Brand Finance. Mr Modi is unperturbed. “I see the value of IPL doubling each year for the next few years.” Though franchises may not be in dire need for funds, he says sooner or later they’ll look to list on the stock market. “I know that some are already toying with the idea.”