Twenty20 Cricket Brand IPL Flying High

What are biggest brands in the sporting world? FIFA, the English Premier League (EPL), the National Football League (NFL) of the US, National Basketball Association and Formula 1. Well, add the Indian Premier League to this list. IPL is definitely one of the biggest brands in the sports world and is growing every year.

A new study, carried out by a UK-based brand valuation consultancy for The Economic Times, states that IPL’s brand value is a staggering $4.1 billion.

The study by Brand Finance reveals that as an enterprise, IPL’s overall brand value more than doubled to $ 4.1 billion, or Rs 18,998 crore, in 2010 from a year ago. The study puts the combined brand value of all franchises at $333 million or Rs 1,542 crore.

And with two more franchises joining the extravaganza in 2011, Brand IPL is set for another big commercial leap. The Brand Finance study 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.

“IPL can be seen as a precursor to emerging global brands out of developing nations and will definitely enjoy a first-mover advantage,” the Brand Finance India MD, Unni Krishnan, told The Economic Times.

Responding to the news, an elated IPL Chairman and Commisioner, Lalit Modi, told The Economic Times, “This is just the beginning and there’s huge value to be unlocked still.”

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