Off the field, it’s a win-win game for both IPL finalists

While RCB will likely see a 15% jump in brand value, Punjab Kings could score 30-40%

Brand Finance’s 2024 IPL report ranked RCB at No. 3 with its brand value rising 67% over 2023, driven in part by its women’s team which clinched the WPL title.

Punjab Kings lost the Indian Premier League final on Tuesday, but it’s set to win big time off the field. Brand experts say the franchise could see its brand value soar by at least 30-40%, albeit on a low base. It stood at No. 9 at the end of the 2024 season with a franchise brand value of $68 million, up from $45 million in 2023.

“Everyone loves an underdog story and that factor kicked in as the finals drew near,” says Ajimon Francis, managing director of Brand Finance India, which annually tracks IPL franchise valuations. Punjab Kings, which languished among the bottom members of the league table every year, was able to build up its fan following as the tournament progressed this year, courtesy some swashbuckling performances.

The winner of the final, of course, is also set to gain handsomely. Experts said Royal Challengers Bengaluru (RCB), which lifted its maiden IPL trophy after 18 years, could see a 15% rise over its brand value of $117 million last year.
“RCB had almost everything that matters: A long-standing presence in the league, consistently packed stadiums, a fiercely loyal fan base, and strong commercial traction through sponsors and ticket sales. This year, they also have the trophy,” Francis said.

Brand Finance’s 2024 IPL report ranked RCB at No. 3 with its brand value rising 67% over 2023, driven in part by its women’s team which clinched the WPL title. After the 2024 league, it stood behind Chennai Super Kings (No. 1; $122 million) and Mumbai Indians (No. 2; $119 million), both five-time champions. “RCB reduced the gap with MI last season; this season they stand a good chance to overtake MI,” said Francis.

Vikas Nowal, CEO of Interspace Communications, also expects a jump in merchandise sales. “RCB for years enjoyed a passionate fan base boasting over 20 million Instagram followers and significant engagement metrics despite never winning. The emotional equity built so far has finally been validated on the field and this changes the math,” he said.
Sindhu Biswal, CEO & founder of Buzzlab, expects jersey real estate to get more expensive, and brands lining up to ride the championship halo. He also predicts a surge in merchandise sales that’ll eclipse previous years by at least 40%.
The real monetisation cycle for teams begins in the next season’s pre-launch period. Historically, IPL winners have seen as much as 2X jump in merchandise sales and up to 30-50% higher renewals in sponsorship contracts. “Think CSK’s WhistlePodu kits or MI’s 5-star legacy merchandise. RCB now has a championship badge, which will be leveraged heavily in fan-first campaigns, influencer tie-ins and content IPs,” Nowal says.

The players, too, are likely to see significant gains. According to Nirmal Paresh Lunagaria, director of sales & marketing and CFO at Spitze by Everyday –a brand partner of RCB this season –Rajat Patidar (who has worked with brands like Sareen Sports, Skechers, and EATFIT) might be the biggest beneficiary of the team’s title win. He takes home `10-15 lakh per endorsement currently.

“His composed performances in pressure situations, especially in the playoffs, have cemented him as a reliable, clutch performer,” Lunagaria says. “Previously seen as a promising but low-profile domestic talent, this win could push him into the endorsement ecosystem’s Tier 2 bracket, alongside players like Ruturaj Gaikwad or Tilak Varma.”

Experts note that while Krunal Pandya (`20-22 lakh/per endorsement currently) might not be the breakout face of the season, this win, especially his super performance in the final, adds a compelling comeback arc to his narrative. For both these players, Sonya V Kapoor, director at M5 Entertainment, estimates a 100% increase in endorsement fee.