One of biggest moneyspinners for the Board of Control for Cricket in India (BCCI), the Indian Premier League (IPL), witnessed a 9% increase in valuation at $3.8 billion in 2017.
One of biggest moneyspinners for the Board of Control for Cricket in India (BCCI), the Indian Premier League (IPL), witnessed a 9% increase in valuation at $3.8 billion in 2017, according to a latest report by Brand Finance – a UK-based brand valuation consultancy. In 2016, during a troubled season, the sport tourney was valued at $3.5 billion.
The drop in valuation in 2016, was the result of a ban by a Supreme Court-appointed panel in July 2015 of IPL franchises – Rajasthan Royals and Chennai Super Kings – for two years on charges of betting by their owners. As per the report, increase in valuation in 2017 can be attributed to a number of innovations in fan experience and pure cricketing excellence, all driving up the interest and participation in the tournament. Overall, stadium attendance increased 25% from 2016. Also according to the report, stakeholders’ renewed confidence in the IPL management following the appointment of the BCCI’s Committee of Administrators (CoA).
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However, with the upcoming tender procedure for television and digital broadcast rights, disbanding of Gujarat Lions and Rising Pune Supergiant, revival of Chennai Super Kings and Rajasthan Royals next season, and unavoidable reshuffling of players, the management faces challenging time, states the report.