This is the continuation of the Article IPL - The Billion Dollar Baby (Part 1)

Emergence of Brand Cricket - IPL has successfully shown the path for business within cricket, thus generating more scope for revenue and employment. At game level too, better opportunity for Indian players to prove themselves, which was earlier limited for 11 players and Ranji Trophies. Cricket as a commodity, Brand and major form of entertainment, rather than sport. Emergence of Cricket as a competitor to other forms of entertainment and finally emergence of Brand India.

This year two new teams Pune and Kochi were auctioned and the sale of the two new franchises made IPL richer by $703 million (Rs 3,235 crore). The existing eight teams had been sold for Rs 3,330 crore in 2008. This just shows the future trend of IPL and its popularity in the coming days. After successful auction, Lalit Modi says, “As far as IPL, there is no recession at all.”

An independent study by Brand Finance, a UK-based independent brand valuation and strategy firm, now reveals that IPL's brand valuation has more than doubled in the last one year alone. The research report states that IPL's branded business value in 2010 doubled to $4.13 billion (Rs 18,998 crore) from $2.01 billion (Rs 9,245 crore) a year earlier.

The reason: A 100 per cent increase in the broadcasting revenues as the deal was renegotiated last year even though the venue was shifted from India to South Africa. Also, the expansion of the franchisee network and the increase in the base price for the auction of the franchise rights has been instrumental in shoring up valuations. And that's not all. Brand Finance argues that IPL is still a relatively undervalued brand.

"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.

Though Shah Rukh Khan’s Kolkata Knight Riders may be struggling at the bottom in the second season of Indian Premier League, but in terms of brand value it is the richest team of the T20 cricket tournament in the second season.

"Winning games is not enough to build a successful sports brand. Teams need to engage the local community, attract star players, who inspire a wide audience, and develop a strong marketing communications programme," Intangible Business International Director Richard Yoxon said.

At the same time for IPL-2, Rajasthan Royals, partly owned by another Bollywood star Shilpa Shetty, has emerged as the best team in terms of return on investment.

While the playing squads will change and the success of each team will fluctuate over time, the brand is the constant that unites supporters and is ultimately responsible for driving the long-term commercial sustainability and success of the IPL franchises.

Brand values are a reflection of a brand's ability to generate future income. It is a forward looking study that uses historic performance and future trends to predict future activity.

The season is getting hotter as the game draws towards end, with cash buzzing at the bet market on a all time high. More and more fans shooting their evening dope from the television after a busy schedule of work and heat.

Let’s live for the day, when the same success can be replicated for our national game.

Article compiled from various sources. Every possible care is taken for the accurate figures but the figures cannot be considered as final.

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