Chennai Super Kings market value hits a new low amid COVID-19 crisis

Chennai Super Kings market value hits a new low amid COVID-19 crisis

Chennai Super Kings market value hits a new low amid COVID-19 crisis (Pic Source: Twitter)

COVID-19 has shown that if a pandemic hit, human beings have no place for hiding even in the technically advance world. The Virus originated form Wuhan city of China has contaminated 202 countries and across the world.  The Virus has infected over 9,00,000 people world-wide with death toll crossing 47,000 till now. Almost whole of the world has been locked down and people have confined themselves in their houses.

The World Economy is going through its worst phase. The markets have hit their lowest points and with them has gone down the market values of business organizations. With the uncertainty over IPL 2020 still looming large, the brand value of Indian Premier League and its franchises have also gone down.

According to a report in Economic Times, Chennai Super Kings has suffered a huge loss in its market value. The shares of Chennai Super Kings have drastically fallen from INR 30 to INR 24 in the span of a few months.  The market value of Chennai Super Kings has also incurred a loss of estimated INR 200 Cr.

“The last trades in CSK have happened at Rs 24, much lesser than the Rs 30 that happened a few months ago. Obviously, this is the impact of the likely cancellation of IPL 2020 on the team’s valuations,” an investment banker said as quoted by Economic Times.

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Earlier, in 2019, according to Duff & Phelps reports, Chennai Super Kings was the most valuable franchise with an estimated cost around 809 Crore in 2019. MI was closely followed by Chennai Super Kings with a brand value of INR 732 Crores and then Kolkata Knight Riders with a brand value of INR 629 Crores.

CSK is the second most successful team in the history of tournament, winning the much coveted trophy three times in the span of 12 years.

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