As the sixth edition of the Indian Premier League gets underway, there are frissons of concern over its financial health.
Nothing major, but its organisers should be worried when the brand valuation of a tournament franchise drops even before it has played out its sixth season.
According to UK Brand Finance, a brand valuation agency, IPL's value has fallen sharply, from $4.1 billion in 2010 to $2.9 billion (approximately Rs 15,900 crore at the current exchange rate) in 2012, which is almost near its base value when the tournament started in 2008.
The chief reasons, Brand Finance said, are poor governance and lack of financial stability.
Text: Business Standard
Images: Associated Press, AFP and PTI