Mumbai Indians, following their win in the Indian Premier League 2020, moved on to achieve yet another milestone – this time, off the field. As per a report published by Brand Finance – an international brand valuation agency, MI registered the highest brand value in the 13th edition of the IPL.
The club continued to dominate the sponsorship market – in India and globally – as it marked a 7.1 per cent rise in its brand value to ~$70 million. This is certainly not a new accomplishment for the Reliance Industries-owned cricket franchise. If anything, they have been at it consistently for the last few seasons.
In 2017, Mumbai Indians became the first IPL franchise to have its brand valued over $100 million, as per a valuation report from Duff & Phelps. According to the same firm, they registered a growth of ~15% in its brand value to $115 million in 2019.
Keeping aside the slight discrepancies in brand evaluation figures, it is evident that Mumbai Indians, from a financial perspective, is the highest-earning and most valued franchise in the Indian Premier League. So much so that when the Covid-19 pandemic hit IPL’s business in 2020, Mumbai Indians was the only team that managed to register an increase in its brand value.
Credit Goes to On-Field Performance
Mumbai Indians have established themselves as one of the most successful teams in the IPL. They have won the title a record five times and will be starting in the IPL 14 as the two-time defending champions.
They are also the only other team in the league, after Chennai Super Kings, to have won the title back to back.
If we look at this logically, it does not come as a surprise at all. Before the IPL 2020 started in the UAE, IPL online betting odds had already pegged Mumbai Indians as the heavy favourites to win the tournament.
And why shouldn’t it be the case? They had some of the best bowlers in Trent Boult and Jasprit Bumrah, and prolific batsmen in Ishan Kishan, Rohit Sharma, and Quinton de Kock. With all-rounders like Hardik Pandya and Kieron Pollard, they essentially had the perfect recipe to win.
Mumbai Indians beat Delhi Capitals by 5 wickets in the final – a few days after beating the same club by 57 runs in the qualifier. With that, MI also registered a five-match unbeaten streak, moving past the likes of Sunrisers Hyderabad, Rajasthan Royals, and Kolkata Knight Riders.
Of course, it’s not just the players who deserve the praise. Their digital marketing team has done a fabulous job of exciting this success and taking it to their fans worldwide in many interesting ways.
The Mumbai Indians Facebook page has over 13 million followers. They have also got their own online merchandise shop to cater to their ever-growing fanbase. In fact, they are also among the most well-known teams in the world of sports.
Will they Continue the Same Run in 2021?
Mumbai Indians won the title on foreign soil in empty stadiums. Imagine what they can do on their home turf, now that the tournament is set to return to India in 2021. Plus, there is also the IPL mini-auction to look forward to, where they can further bolster their already superior squad.
They have let go of names like Lasith Malinga and Nathan Coulter-Nile while retaining the biggies like Rohit Sharma, de Kock, Bumrah and Pollard. It is yet to be seen what the new edition of the Indian Premier League will bring, but they will most certainly start as the favourites once again.