Brand IPL touches the sky closer year by year

After capturing the hearts and minds of millions all across the world, Indian Premier League has now crossed another landmark.

According to a recent study by a UK-based brand valuation consultancy, the brand value of the IPL has more than doubled to USD 4.13 billion (over Rs 18,000 crore) from USD 2.01 billion in 2009.

Interestingly, brand IPL has a higher valuation than English Premier League club Manchester United, which is valued close to USD 3 billion.

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

"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.

"A huge amount of intellectual property is being created by the complete IPL ecosystem which was sustained despite last year's difficult economic conditions. This demonstrates the exponential value of IPL and the brand potential in a cricket loving country like India and other global cricketing countries," Brand Finance said in a release.

The franchises have been a part of this growth. Chennai Super Kings, who were ranked fourth last year, has emerged the most valued franchise in 2010. The CSK franchise has moved up the ladder to number one with a valuation of USD 48.4 million. The Kolkata Knight Riders co-owned by Bollywood actor Shah Rukh Khan comes in second with a valuation of USD 46 million and the Rajasthan Royals, co-owned by Bollywood actress Shilpa Shetty comes in third with USD 45.2 million.

The Royal Challengers Bangalore, owned by Vijay Mallya, is ranked fourth with a valuation of USD 41.9 million and is followed by the Mumbai Indians (USD 40.8 million), Delhi Daredevils (USD 40.5 million) and Kings XI Punjab ( USD 36.1 million). The Deccan Chargers are at the base with a valuation of USD 34.4 million.