IPL: Process, not flamboyance, has helped the CSK brand grow, says CEO

The success of the Chennai Super Kings, the five-time IPL champions who showed the maximum growth in their brand value in 2024, is the reward of following a “process to get the best results and not flamboyance”, according to a top official. The yellow shirts have been declared the most valuable IPL team, with a US$ 122 million brand value, according to an annual report from Brand Finance India, a leading brand valuation agency.

CSK showed a growth of 52 per cent, while four franchises together — the Mumbai Indians (MI), the Kolkata Knight Riders (KKR), the Royal Challengers Bangalore (RCB) and CSK — have crossed the US$ 100 million brand value benchmark for the first time.

The cash-rich Indian Premier League, whose 17th edition was played this year, maintained its own growth story too, posting a 13 per cent surge in cumulative brand value, jumping from US$ 10.7 billion in 2023 to US$ 12 billion in 2024.

Asked what makes them tick despite CSK being rather conservative in terms of brand building, Kasi Vishwanathan, their long-serving CEO told National Herald: ‘’There is no denying the enduring appeal and influence of M.S. Dhoni on the team.”

“We have always believed in keeping things simple, the virtues of a process to give us the best results rather than flamboyance and this has helped the brand grow,’’ Vishwanathan added.

MI maintained their position as the IPL’s second most valuable brand this year, with their brand value going up 36 per cent to US$ 119 million, with RCB third at US$ 117 million (67 per cent growth) and champions KKR fourth at US$ 109 m (38 per cent). Sunrisers Hyderabad, runners-up last season, sprung a surprise as the IPL’s fastest growing brand at 76 per cent to be valued at US$ 85 million.

Ajimon Francis, managing director of Brand Finance India, said in a statement: ‘’IPL 2024 witnessed a significant paradigm shift with four franchise brands now surpassing the US$ 100 million mark in brand value and experiencing dramatic increases in central revenue shares. Digital viewership has overtaken traditional TV numbers, while domestic batters and bowlers are emerging as key performers. Does this mark a dramatic turn for the IPL, signalling a positive transformation for the league’s future?”

While Brand Finance had been a go-to agency to gauge the valuation in the IPL, a separate report by valuation services provider D and P Advisory said in September said that the IPL’s business enterprise value fell by 11.7 per cent to US$ 9.9 billion in 2024 due to a reassessment of media rights among media industry consolidation.

Catching up to do

The Brand Finance report also highlights significant growth potential for the top five IPL teams, with opportunities to further grow their brand value to levels close to major football leagues such as the EPL, La Liga, Bundesliga, Serie A and Ligue 1.

The combined brand value of the top five IPL teams is US$ 551 million, three times lower than top teams in these football leagues, whose brand values range from US$ 2.9 billion (Bundesliga) to US$ 6.7 billion (EPL).

While the RCB men’s team is still in pursuit of the elusive IPL crown, meanwhile, their success in the Women’s Premier League (WPL) this year has certainly boosted the team’s ‘good reputation’ metrics — reinforcing sponsor confidence with packed stadia.

Star players such as Smriti Mandhana, the RCB captain, Jemimah Rodrigues and Harmanpreet Kaur also emerged as influential voices for women’s cricket — and for many consumer brands — further solidifying the WPL 2024 as a rising powerhouse in the sports industry.

Brand value of IPL franchises in 2024

1.     CSK: US$ 122 million

2.     MI: US$ 119 m

3.     RCB: US$ 117 m

4.     KKR: US$ 109 m

5.     SRH: US$ 85 m

6.     RR: US$ 81 m

7.     Delhi Capitals: US$ 80 m

8.     Gujarat Titans: US$ 69 m

9.     Punjab Kings: US$ 68 m

10.  LSG: US$ 60m

(Source: Brand Finance India)