When the Board of Control for Cricket in India (BCCI) sacked Lalit Modi as commissioner of the Indian Premier League (IPL) last April, the objective may have been to clean up the wildly successful Twenty20 tournament of its alleged ills ranging from money laundering to match fixing. A year down the line, however, the ghosts of the controversies and allegations have yet to be exorcised.
The latest Brand Finance study, which reveals a 11%, or $460 million drop in the value of the IPL, is evidence that all is still not well with the IPL. After two years of solid growth-the brand's value more than doubled last year-the IPL's worth is now pegged at $3.67 billion, down from a peak of $4.13 billion a year ago.
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