“Commercial sustainability of IPL will largely depend on the development of brand value governance principles and policies and aligning all the stakeholders towards long term value rather than narrow, short term gains. If these critical factors are not swiftly addressed by the BCCI there is a significant risk to IPL’s brand value addition capabilities in the future ” – M. Unni Krishnan, MD Brand Finance, February 2010
In Feburary 2010 Brand Finance had observed in its annual research on the value of the IPL brand, that the “IPL Branded Ecosystem is rapidly approaching an inflection point in the next 6‐12 months”. BrandFinance had summarised that whilst the IPL brand had added significant value in a relatively short period of time, there are significant risks in terms of brand value governance & transparency, management systems & processes, and stakeholder alignment to future proof the exponential value generation capabilities of the brand.
The IPL brand along with its stakeholder relationships are the largest assets of the BCCI today and any damage to it will adversely impact its future.
IPL’s brand value erosion will send a shock wave through the entire ecosystem of stakeholders covering fans, corporates, sponsors, players and franchisee owners. This will be a dampener on the fledgling sports, merchandising and licensing business in India.
On a much broader level, IPL has demonstrated the coming of age of India’s commercial prowess on a global stage and this will have implications on Brand India.
Iconic brands such as IPL are national assets and a source of wealth creation and especially so for a developing nation like India. It needs to be protected and governed in a manner befitting its importance. Locating the stewardship and governance frameworks to protect and sustain this valuable asset is a decision that cannot be postponed.
For further details contact - Mr. Rishav Kumar Jain.