IPL brand value doubles to $4.13 billion

Quickfire cricket format Indian Premier League's brand value has more than doubled to $4.13 billion (over Rs 18,000 crore), while 'Chennai Super Kings' has emerged the most valued franchise this year, says a study.

The valuation of teams pale in comparison to the IPL brand itself, which has more than doubled from last year's $2.01 billion.

"The IPL brand alone has risen significantly from the previous year's valuation providing tremendous economic value to its owner BCCI," according to brand valuation consultancy Brand Finance.

"In comparison to international benchmarks for sporting business' such as EPL (English Premier League) which is valued at $12 billion, the IPL juggernaut, in a short span of 3 years, is valued at $4 billion and has the potential to grow further," said Unni Krishnan, Managing Director of Brand Finance India.

Source:http://timesofindia.indiatimes.com/iplarticleshow/5713042.cms