In a country where cricket is considered a religion, its biggest cash cow is now worth $12 billion. The Indian Premier League's accumulative brand value has surged over 12% from last year's $10.7 billion, according to Brand Finance's annual IPL report. This has happened on the back of the Board of Control for Cricket in India's allocation of record sums to each franchise, which in turn was driven by a surge in broadcasting revenues and strong central sponsorships.
Brand Finance India's MD, Ajimon Francis called the League "a small economic engine in itself" spanning over 100 days annually.
"As per our estimate, IPL 2024 generated over 12.5 lakh direct and indirect jobs for Indians alone – involving in-stadia staff, security personnel, artisans and digital creators," he said.
The IPL franchises themselves saw their revenues more than double in 2024, the report reads.
Central Revenue Drives Brand Value
Four IPL teams, Chennai Super Kings, Mumbai Indians, Kolkata Knight Riders and Royal Challengers Bengaluru have surpassed the $100 million mark in brand value for the first time.
CSK has cemented its position as the League's most valuable franchise, with its brand value surging 52% to $122 million in 2024.
MI follows closely with a valuation of $119 million while and RCB's valuation surged nearly 70% to $117 million on the back of RCB Women’s victory.
Defending champions KKR's brand is currently valued at $109 million.
IPL 2024 witnessed a significant paradigm shift, with franchises experiencing dramatic increases in central revenue shares.Ajimon Francis, Managing Director, Brand Finance India
Franchises earn a major part of their revenue from a central pool collected by the BCCI, which is then distributed equitably among the teams. This central pool is formed in a large part by the broadcasting fees collected for a fixed period, combined with sponsorship fees, and fees received from old and new franchises. While this revenue had remained stubbornly stagnant for the past four years.
For the current five-year period through 2027, Star India won the television broadcasting rights for Rs 4,700 crore a year, and Viacom18 - JioCinema won the digital format for Rs 4,800 crore a year. This compares to the Rs 3,300 fees paid by Star India and Hotstar over CY18-22, who held the rights to television as well as digital broadcasting.
The Thala Factor
With the leadership of MS Dhoni — especially with his impending retirement announcement —CSK dominated IPL 2024 like never before, says Brand Finance India.
With the leadership of MS Dhoni — especially with his impending retirement announcement —CSK dominated IPL 2024 like never before, says Brand Finance India.
Cricket icon MS Dhoni’s enduring appeal has been instrumental in elevating the CSK's brand, according to the report.
"With the highest pan-India fan engagement and a dedicated viewer base for each match, CSK thrives on multiple revenue streams, including gate receipts, merchandise sales, sponsor partnerships, and robust digital and TV viewership," it says.
As per the methodology used, CSK’s brand strength is attributed to high scores across several key metrics, including 'has passionate fans' and the 'club has a lot of star players'.
With the leadership of MS Dhoni — especially with his impending retirement announcement —CSK dominates IPL 2024 like never before.Brand Finance IPL 2024 Brand Value report
As the mega auction for the upcoming IPL season wound up with marquee players including Rishabh Pant, Shreyas Iyer and Venkatesh Iyer selling for record amounts, Brand Finance says that the League's combination of high-profile players, innovative formats, and strong commercial backing has solidified its place as the dominant force in the cricketing world.
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