The continuous rise in value of the Indian Premier League

Since 2008, the IPL has established itself as a global phenomenon and it has done so in a relatively short time. It attracts millions of fans and viewers, providing instant entertainment. All the signs are that it will continue to grow through increased sponsorship, viewer numbers and media rights income. (AFP)
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Updated 02 May 2024
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The continuous rise in value of the Indian Premier League

In the aftermath of the Punjab Kings’ record chase of 262 runs on April 26, team captain Sam Curran, remarked that the Indian Premier League “(is) becoming a bit like baseball, isn’t it?”

This was likely a moment that opponents of the IPL had predicted and feared — and, conversely, one that proponents of the IPL and T20 cricket in general relished.

T20 cricket is in line with the age of fast food. Instantly consumable, quickly forgotten and underpinned by mass advertising and high-profile personalities. Around the world, its sponsors include KFC for Australia’s Big Bash League, the very title encapsulating the format’s frenzy.

In England, the Hundred has a five-year deal with KP Snacks. Given governmental policy to reduce consumption of products that are high in fat, salt and sugar, the partnership has drawn criticism.

Meanwhile, in South Africa, SA20’s title sponsor is Betway, one of a growing number of betting companies associated with cricket. In the IPL, there is a myriad of sponsors. The title one, Tata, is paying $300 million between 2024 and 2028. Then there are three associate partners — My11Circle, Angel One and RUPay — plus an official broadcaster in Star Sports, official digital streaming partner JioCinema, official strategic timeout partner CEAT and an umpire partner in Paytm.

Each franchise team has a plethora of principal partners, associate partners, media partners and merchandise partners. These represent a broad range of different industry sectors which boost the brand value of the franchises. According to brand valuation consultancy Brand Finance, the value of the ten franchises at the end of the 2023 season ranged from $43.7 million to $87 million. The estimated brand value of the IPL was $10.7 billion.

Estimates of brand value are derived differently by different bodies. This is because brands are not tangible assets — they are subject to beliefs, perceived reputation, trust and experience. Their value lies in how consumers associate with the brand and how it influences their behavior. Attempts to quantify these factors require measurable elements such as trademarks, logos, taglines, visual assets, digital assets, customer retention and social media engagement levels.

Since it began 17 years ago, the IPL has generated all of these in abundance. Along with experience and engagement within the stadiums, an exponential growth in viewership reached close to 500 million unique viewers in 2023. The new media rights regime in 2024 has created further growth, with the Disney Star Network acquiring broadcast rights for all IPL matches in 2024. Live broadcast of the first 18 attracted over 400 million viewers, a 17 percent like-for-like increase over 2023. 

There is a big shift in live streaming, with Viacom’s JioCinema awarded digital streaming rights in the 2024-27 cycle. In 2023 it streamed the entire IPL season for free on its mobile app and website, a feature continued into 2024. The move took many by surprise but enabled it to set a record for the highest concurrent viewership for a live-streamed event — some 32 million viewers tuned in to watch the final. Now, digital streaming appears to be gaining momentum over traditional TV broadcasting with IPL viewers, depending on market segment. This can only increase as technology advances and accessibility improves.

As a result, brand value estimates after the 2024 edition are likely to be affected. Close inspection of existing estimates reveals the different methodologies in use. Cost-based valuations focus on how much it has taken to build the brand. Market-based valuations take account of how much sales of similar brands have raised. Income-based valuations focus on how much money the brand brings into the organization compared with non-branded similar products for services. Customer-based valuations analyze existing customers and predict future consumption patterns.

Another approach is the relief from royalty method, used by global investment bank Houlihan Lokey. This calculates value based on hypothetical royalty payments that would be saved by owning an asset rather than licensing it. In 2023, this produced a brand value estimate for the IPL of $3.2 billion — a difference of some $10.7 billion compared with other estimates. The methodology also produces different estimates of the franchise brand values. In this case, they are in a higher range of $83 million to $212 million, with a slightly different ranking.

Houlihan Lokey also undertook a valuation of the IPL’s value as a business, based on the standard discounted cash flow technique. This amounted to $15.4 billion in 2023, an increase of 80 percent over 2022. Most of this can be attributed to the renewal of the media rights deal covering 2023-2027, worth three times more than the 2017-2022 cycle. It is reasonable to assume that, given the year-on-year increases in viewership, the IPL will be able to command even more enhanced terms in the next cycle.

Intuitively, this makes the use of DCF techniques understandable. Under normal circumstances, the IPL can be reasonably sure of its future revenue streams. Once they are expressed in terms of present values, investors can assess what rate of return they are likely to achieve. Ultimately, returns on investment and profits are more important to stakeholders than differences in brand valuations, although the franchisees remain committed to brand enhancement through fan engagement, association with star players and top sponsors. 

Since 2008, the IPL has established itself as a global phenomenon and it has done so in a relatively short time. It attracts millions of fans and viewers, providing instant entertainment. All the signs are that it will continue to grow through increased sponsorship, viewer numbers and media rights income which, in turn, proliferates advertising revenue for the media. This is big business and looks unstoppable, but it may morph into a caricature of the game from which it took its roots.


Lewandowski back for Barca at Espanyol with LaLiga title in sight

Updated 58 min 22 sec ago
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Lewandowski back for Barca at Espanyol with LaLiga title in sight

  • The Polish striker missed Barca’s last three league games
  • The 36-year-old has scored 25 goals in 31 league games

BARCELONA: Barcelona striker Robert Lewandowski is set to return to action in Thursday’s LaLiga clash at Espanyol, manager Hansi Flick said, as his side prepare to wrap up the title this week.

A victory in their city derby against Espanyol would clinch the championship for the Catalans. Barcelona, now seven points clear at the top with 82 points, could win the title as early as Wednesday if Real Madrid fail to win at Mallorca.

The Polish striker missed Barca’s last three league games and was also absent from their 3-2 Copa del Rey final win over Real Madrid on April 27 due to a muscle injury.

The 36-year-old has scored 25 goals in 31 league games, two behind Kylian Mbappe in the LaLiga Golden Boot race, with both having played the same number of matches.

“Lewandowski is doing good and of course he is ready to play,” Flick told reporters on Wednesday.

Lewandowski featured for only 30 minutes in their Champions League semifinal second leg defeat by Inter Milan last week and missed their 4-3 home win against Real Madrid on Sunday.

After their last Clasico win, Barcelona have defeated Real in all four encounters this season across all competitions, and Flick hailed his team’s performance as a source of immense pride.

“We played 24 minutes with no contact from Real in our half, so it has something to do with the pressing, it has something to do with the right structure we had,” he said.

“How we started to press them when they had the ball was unbelievable. When I heard this stat I thought it’s really great... we can be very proud of that. I’m happy for the fans, for the club, because I know that’s very important for them.”

Asked about Real manager Carlo Ancelotti joining the Brazil national team at the end of the season, Flick, who coached Germany from 2021 to 2023, said: “I think he (Ancelotti) did a fantastic job in Madrid. He’s a gentleman and one of the best and most successful coaches in the world.

“I wish him all the best for his new job. I think he will find a great team there, and he can follow success there.”


Saudi Western Region Men’s Hockey Championship and Women’s Hockey Championship start Friday

Updated 14 May 2025
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Saudi Western Region Men’s Hockey Championship and Women’s Hockey Championship start Friday

  • Tournaments are part of the series of competitions organized by the Saudi Hockey Federation
  • Championships will feature the participation of four teams in both competitions

JEDDAH: The Saudi Western Region Men’s Hockey Championship and the third Women’s Hockey Championship will begin at the indoor sports hall of Al-Ahli Club in Jeddah on Friday.

The two-day tournaments are part of the series of competitions organized by the Saudi Hockey Federation, a media statement said on Wednesday.

The championships will feature the participation of four teams in both competitions, as part of SHF’s efforts to promote the sport across various regions of the Kingdom.

In March, the federation organized the 2025 Saudi Central Region Hockey Championship, which was held at the Al-Shabab Club fields.

That tournament saw the participation of 40 players representing eight teams, playing a total of eight matches and scoring 51 goals.

SHF said that organizing the tournaments was part of its efforts to enhance competitiveness among teams, empower amateur clubs and expand community participation.

“This initiative contributes to developing an integrated sports environment that supports hockey practice and talent discovery, reflecting the federation’s vision to build a strong foundation for the sport across the Kingdom,” the statement said.


Atletico keen to keep improving to close gap with rivals, says Simeone

Updated 14 May 2025
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Atletico keen to keep improving to close gap with rivals, says Simeone

  • Simeone’s side faded and now sit third with 70 points from 35 matches
  • Atletico will also have one eye on the upcoming Club World Cup

MADRID: Atletico Madrid will continue their efforts to close the gap on their rivals next season, manager Diego Simeone said on Wednesday as his side look to end the current campaign on a high after falling out of the LaLiga title race.

Atletico’s close-season transfer window last year was headlined by forward Julian Alvarez, with the club also signing midfielder Conor Gallagher, center back Robin Le Normand and striker Alexander Sorloth.

Atletico, who last won LaLiga in 2021, were in the running for the title this campaign and even topped the standings at the halfway mark, but Simeone’s side faded and now sit third with 70 points from 35 matches.

Barcelona are top with 82 points, seven ahead of bitter rivals Real Madrid in second place. Barca could secure the title on Wednesday without kicking a ball if Real fail to beat Mallorca.

“In every season we take steps, last year with the arrival of players and next year we are going to do it the same way, always thinking about improving,” Simeone told reporters ahead of Thursday’s trip to 11th-placed Osasuna.

Atletico will also have one eye on the upcoming Club World Cup.

The expanded 32-team tournament runs from June 14 to July 13 in the United States with $1 billion in prize money at stake.

“The money at stake is for those who are thinking about that competition. For us it’s a very nice tournament, it’s exciting to represent Atletico and we hope to get there in the best way,” Simeone said.

The Argentine was also asked about Carlo Ancelotti, who will leave Real at the end of the season to become the new coach of the Brazil national team.

Ancelotti has enjoyed four hugely successful years in his second tenure with the Spanish giants but they are set to finish this season without a trophy.

The Italian is set to be replaced at the Bernabeu by former Real midfielder Xabi Alonso.

“As a coach, we all have admiration for his work, not only for everything he managed at Real Madrid, but for his entire sporting career. I’m an admirer of his, I love him very much, he knows that and I wish him all the best,” Simeone said.


Dubai-based racing talent targets F1 goals after ‘milestone’ Alpine move

Updated 14 May 2025
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Dubai-based racing talent targets F1 goals after ‘milestone’ Alpine move

  • Keanu Al-Azhari, 17, recently joined the French team and will race in the GB3 Championship this season

DUBAI: A young UAE motorsport driver hopes his move to Alpine Academy can help him achieve his goal of racing in Formula 1 in the future.

Dubai-based Keanu Al-Azhari, 17, recently joined F1’s Alpine Academy and will race for Hitech GP in the GB3 Championship this year after two seasons in Formula 4.

He praised Dubai Autodrome, a subsidiary of Union Properties, for its role in his sporting development.

Al-Azhari described his move to Alpine Academy as a “milestone” achievement, especially as he comes from a racing family. The 17-year-old is now looking forward to the latest chapter in his racing journey, hoping it can eventually lead to a seat in the pinnacle of motorsport — Formula 1.

“Joining Alpine is a big milestone in my career and a reflection of all the hard work that I have put in,” he said. “I’m really proud to be part of the Alpine family, and they will help develop me during my junior single-seater career. Hopefully, this move will be another step toward reaching my career goal of reaching F1 one day, as that is my dream. It’s going to be a tough few years, but I am ready to show everyone what I have now.”

Al-Azhari has made an impressive start to his motorsport career. Last year, he secured four wins, nine podiums and five pole positions, finishing runner-up in the Formula 4 Spanish Championship, while in the Formula 4 UAE Championship in the same year, he earned two wins, five podiums and four pole positions to secure third place overall.

Before getting behind the wheel, he came through the ranks in karting at Dubai Kartdrome, where he was part of its DAKA program, and raced in some prominent competitions, including the IAME Series UAE.

His fond memories of the venue came at a very early age, having followed his father, Karim, in his motorsport journey. Al-Azhari also spoke of his gratitude to Dubai Autodrome for supporting his career.

He said: “The Dubai Autodrome and Kartdrome have been a big part of my life. My first memories of going to the track were at a very young age, when I was 3 years old, when my dad, Karim Al-Azhari, was racing in local competitions. After finishing my karting career, it was the place where I learned how to drive a racing car and got my racing license.

“I have taken to the track and driven in so many different layouts of the track, which helped me develop before I went into the Formula 4 European Series races. I’m really grateful for their support, as they have played a big role in my journey today.”

Al-Azhari is among a number of young drivers who have transitioned from karting to motorsport with the help of Dubai Kartdrome.

The list includes UAE’s Rashid Al-Dhaheri, former Dubai Kartdrome O Plate champion, who recently joined Mercedes’ Junior Driver Program; Zack Scoular, competing in British GB3; Jamie Day, an ex-karting champion and part of the Aston Martin drivers’ junior team in European Endurance GT3; Edward Jones, who finished third in Indy 500; and Federico Rifai, a multiple-karting champion and former Saudi F4 winner.

Having seen Al-Azhari come through the ranks, Dubai Autodrome general manager Faisal Al-Sahlawi said the 17-year-old’s rapid progress is a testament to the Dubai Autodrome’s efforts to produce future motorsport stars.

He added: “We are extremely pleased to see how far Keanu Al-Azhari has come so early in his career, and we are delighted Dubai Autodrome has played a key role in helping make him the driver he is today.

“Ever since he started coming to Dubai Autodrome, he always had a passion for motorsport and the hunger to succeed in every race, and it is wonderful to see that he still has that commitment. With plenty of years ahead of him, he possesses all the correct attributes to be an even better driver and become a future world motorsport champion.

“We hope many young drivers across the UAE can follow in his footsteps and begin their motorsport journey with Dubai Autodrome.”


DP World International League T20 4th season to start on UAE National Day

Updated 14 May 2025
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DP World International League T20 4th season to start on UAE National Day

  • Khalid Al-Zarooni, ILT20 chairman and Emirates Cricket Board vice chairman, says the new season will start on Dec. 2

DUBAI: Season four of the DP World International League T20 tournament will start on Dec. 2 — UAE National Day — it has been announced.

The six-team, 34-match tournament will conclude just over a month later, with the final taking place on Jan. 4, 2026.

The biggest T20 league in the Gulf region has moved out of its traditional January-February window as the ICC Men’s T20 World Cup is scheduled for February-March 2026.

ILT20 chairman ILT20 and Emirates Cricket Board vice chairman, Khalid Al-Zarooni, said: “We are delighted to confirm that the DP World International League T20 season four will commence on the UAE National Day — Eid-Al-Etihad — which is one of the most important days on the UAE calendar.

“The UAE National Day is the day where we celebrate the United Arab Emirates, which is home to people from around the world including millions of diehard cricket fans. It is a real honor for us to join the nation in the UAE National Day 2025 celebrations with the launch of the region’s biggest T20 league on the same day.”

DP World ILT20 CEO David White added: “The ICC Men’s T20 World Cup begins in early February; hence it was important for us to start and finish season four well before the tournament as it will allow the players playing both the DP World ILT20 and the T20 World Cup to prepare for national duty. In addition, we feel the December-January window will provide the teams the best opportunity to access a bigger pool of players.

“Season three was a big success with outstanding broadcast and digital numbers as the fans enjoyed a step up in the quality of cricket. The teams gave their absolute all across the hugely competitive 34 tournament matches, which concluded with a nail-biting final. We are now fully focused on making an even bigger impact as we turn our attention to Season 4.”

Season three featured major T20 stars including Nicholas Pooran, Sam Curran (player of the tournament — red belt winner), Shai Hope (most runs in the tournament — green belt winner), Fazalhaq Farooqi (highest wicket-taker — white belt winner), Andre Russell, Sunil Narine, Jason Holder, Alex Hales, Fakhar Zaman, Lockie Ferguson, David Warner, Rovman Powell, Dasun Shanaka, Rahmanullah Gurbaz, James Vince, Shimron Hetmyer, Tom Banton, Romario Shepherd, Tim Southee, Tim Seifert, Matthew Wade, Jason Roy, Adil Rashid and Adam Zampa.

The Dubai Capitals won the trophy, edging out the Desert Vipers in a thrilling final which was played in front of a full house at the Dubai International Stadium.