However, there was an increase in the overall value to Rs 47,500 crore this year from Rs 41,800 crore in 2018.
Duff & Phelps the global advisor that protects, restores and maximizes value for clients, on Thursday announced findings from its IPL Brand Valuation Report 2019, a comprehensive study on brand values in the league.
While reigning champions Mumbai Ind continued to top the charts for the fourth time with an 8.5% increase in brand value at Rs 809 crores, Kolkata Knight Riders and Royal Challengers Bangalore recorded an 8% decrease in brand value to reach Rs 630 crores and Rs 595 crores respectively.
Chennai Super Kings' brand value went up by 13.1 percent. CSK is valued at Rs 732 crore in 2019 which was Rs 647 crore in 2018.
Delhi Capitals, which reached the playoffs this time, was the other big gainer with 8.9 percent rise in brand value. The team's value grew from Rs 343 crore last year to Rs 374 crore in 2019.
An increase of 20% in advertising revenues this year and the recently renewed PayTM title sponsorship deal (which has fetched an increase of 58% on a per-match basis over the last deal) are testaments to the continued popularity of IPL.
This has resulted in a steady increase in the value of the ecosystem (which grew by 13.5% in INR terms).
Varun Gupta, Asia Pacific Leader for Valuation Advisory Services and India Country Leader, Duff & Phelps, said, "Our IPL brand values report reflects the evolution of the modern cricket business paradigm.
"As we move into the second decade of IPL, the league has transitioned from being a startup to being a more mature, stable and profitable business. An increase of 20% in advertising revenues this year and the recently renewed PayTM title sponsorship deal (which has fetched an increase of 58% on a per-match basis over the last deal) are testaments to the continued popularity of IPL.
"This has resulted in a steady increase in the value of the ecosystem (which grew by 13.5% in INR terms). However, for growth trajectories to maintain their momentum, all teams need to focus on their on-field performance while continuing to broaden their footprint, forge relationships and generate revenue opportunities in growth markets."
( With inputs from IANS )
