MUMBAI: The Indian Premier League (IPL), cash-cow of the Board of Control for Cricket in India ( BCCI ) and the largest media property from India, has seen a 13.5% jump in its brand value in 12th year as per Duff & Phelps, the global valuation and corporate finance advisors, who have been coming out with annual report on IPL As per the sixth edition of the report, IPL brand value has surged to Rs 47,500 crore, from Rs 41,800 crore last season.However, after considering exchange rate fluctuations, in the USD terms the increase is around 7% to $6.8 billion, from earlier $6.3 billion.Interestingly, the individual franchisee brands saw mixed fortunes, with their brand values increasing or decreasing in close correlation with their on-field performances.“As we move into the second decade of IPL, the league has gradually transitioned from being a startup to being a more mature, stable and profitable business model,” said Varun Gupta, Managing Director and Asia Pacific Leader for Valuation Services, Duff & Phelps.He added that if one goes by the recently renewed BCCI and Paytm title sponsorship deal (an increase of 58% on a per-match basis over the last deal), IPL will be looking for another massive increment when the sponsorship rights are up for grabs in the year 2022.MI and CSK most valuable clubs, KKR witnesses drop in valuationAmong franchises, Mumbai Indians , with a brand value of Rs 809 crore, up by almost 8.5% from last year, continues to top the charts for the fourth season in a row. Chennai Super Kings also has seen a massive gain of 13.1% in its brand value to Rs 732 crore, propelling the team to the No.2 spot in the brand rankings.Though CSK saw its brand value erode due to the two-year ban imposed on it, it seems to have recovered on the back of continued on-field success coupled with a pan-India fervent fan base and Dhoni’s charisma.Kolkata Knight Riders and Royal Challengers Bangalore have seen their brand value erode primarily on account of their below-par on-field performances, with both franchises shedding approximately 8% of their brand value. However, both continue to be backed by loyal fan bases and the presence of Shah Rukh Khan and Virat Kohli respectively, who continue to carry each brand on their shoulders.Sunrisers Hyderabad, the youngest franchisee in IPL, has made steady gains over the years in terms of its brand value, while Delhi Capitals , on the back of its on-field performances this season, saw an appreciation of 9% to its brand values.“This year, MI and CSK continued their absolute dominance with MI winning their fourth IPL title. Their consistent on-field performance has made them fulfil the dreams of their sponsors and advertisers resulting in a year-on-year increase in their brand value. On the contrary, RCB and KKR have shed some of their brand value this year demonstrating that big city bases and marquee players are not the only factors influencing brand value; consistent performance on the field also matters,” said Santosh N, Managing Partner, D and P India Advisory Services LLP, a member of the Duff & Phelps network.