The spot fixing charges on three players belonging to the Rajasthan Royals team is likely to further dent the brand equity of the Indian Premier League (IPL), only partially having recovered its value this year on the back of some astute management by its owner, the Board of Control for Cricket in India (BCCI).
A recent study by Brand Finance, a UK-based consultancy, had pegged the IPL's overall value at $3.03 billion (Rs 16362 crore), four per cent higher than last year's $2.92 billion (Rs 15768 crore).
Only, the marginal increase came after two years of decline.
From 2010 to 2012, the brand value went from $4.13 billion (Rs 22302 crore) to $3.67 bn (Rs 19818 crore) to $2.92 billion.
Cumulatively, this was an erosion of nearly $1 billion.
Text: Business Standard