Mumbai Indians (MI) are having a nightmare in the ongoing IPL 2022 as they are yet to win a match in the tournament from 8 outings having made a record for most consecutive losses at the start of the season.
However, this hasn’t dented their popularity or their value as a recent report from Forbes stated that the Mumbai-based franchise has a value of $1.3 billion closely followed by Chennai Super Kings, which are valued at $1.15 billion.
Like MI, CSK has also struggled to win matches, having registered 2 wins in 8 matches thus far.
The other teams including Kolkata Knight Riders ($1.1 billion), the new entrant of IPL 2022 Lucknow Super Giants ($1.075 billion), and Delhi Capitals ($1.035 billion) are next while Royal Challengers Bangalore ($1.025 billion), Rajasthan Royals ($1 billion), Sunrisers Hyderabad ($970 million), Punjab Kings ($925 million) and Gujarat Titans ($850 million) complete the list.
According to the valuation done by Forbes, the average worth of each franchise was $67 million, but with the league having recently expanded to ten clubs, that average is now up to $1.04 billion, an annualized growth rate of 24 percent.
“The IPL is the most prominent cricket league in the world in terms of attracting sponsors and media rights. A lot of credit goes to founders of the IPL, who took ideas from the NBA and European soccer leagues, and good governance by the BCCI with regards to clear visibility of team funding and ensuring the tournament continued during Covid,” Ajimon Francis, managing director at Brand Finance India was quoted by Forbes.