With Vivo gone from the title sponsorship of IPL, the business minds around cricket sniff a downfall for IPL’s brand value somewhat. As there is a high chance that the heavy amount of Chinese ads are not to flood during the tournament. It is being estimated by some, that the revenue for BCCI from IPL might drop by 20 to 30 percent. But despite such a decline in revenue, the cricketing mega event is to stay among the top five professional tournaments in the world in terms of brand value.
The business numbers regarding IPL in the past six years has been mind-boggling as the tournament grew by 147 percent. It was estimated that back in 2019, the brand value of IPL was around Rs 47,500 crores, Which is just next to NFL (USA), Major League Baseball (USA, Canada), NBA (USA, Canada).
National Football League of USA is estimated to have a brand value of Rs 97,500 crores. While Major league Baseball has a brand value of Rs 75,000 crores. NBA is valued at Rs 58,500 crores and is followed by IPL. The fifth in the list is England’s Premier League, which is valued at Rs 39,800 crores.
Since the inception of IPL, the tournament had three different title sponsors. The first five editions of the tournament saw DLF as its title sponsor. The next three IPL editions had beverage giant Pepsi as its title sponsor. And next was Vivo in two different installments.
IPL has now become a global brand
Vivo became the title sponsor for the Indian mega sports event in 2016 after replacing beverage giant Pepsi by outbidding them. And then they retained the sponsorship in 2019 for the next five seasons by agreeing to a whopping Rs 2199 crores. The next highest bid was Rs 1,432 crore by Oppo, which then held the Team India sponsorship rights. Which effectively meant that they agreed to pay BCCI a sum of whopping Rs 440 crores yearly. In the first edition was mere Rs 40 crores by DLF. It did increase with Pepsi, as they were paying Rs 79.4 crores yearly. Even Vivo’s first installment of title sponsorship saw them pay Rs 100 crores which jumped to Rs 440 crores a year in its next tie-up with the tournament.
If we talk about the teams, Mumbai Indians is the most valued IPL team at a mind-boggling Rs 809 crores. Back in 2014, its brand value was hovering around Rs 433 crores. Next in the line is CSK. CSK even after missing two editions in between due to spot-fixing scam, is valued at Rs 732 crores. Though in 2014 it was a tight fight between CSK and MI for the top spot with both of them being valued at Rs 433 crores. Third, in the line is KKR, but has a worrying factor to keep in check as its brand value in 2019 declined in comparison with 2018. Currently, the entity is being valued at Rs 629 crores. Though not in the top flight, an impressive performance from SRH in the past few seasons saw their brand value soar by 222 percent in the last five years, and are currently valued at Rs 483 crores.