Chennai Super Kings (CSK) has now become the first sports unicorn of India with its market cap crossing 7600 crore INR recently. There was a sharp rise in the valuation of CSK shares as the team won its 4th IPL title in Dubai last year and with two new franchises being inducted into the IPL, CSK’s total market cap in the private equity market went even further and crossed the mark of 1 billion USD.
No sporting start up in India had crossed the market valuation of 1 billion USD before CSK and given CSK’s consistency over the years, not just in terms of performance on the field, but also in terms of fans’ engagement, it makes total sense that they have managed to become India’s first sports unicorn.
CSK has played 12 seasons of IPL so far and has qualified for the IPL playoffs a total of 11 times, which is a record in the history of the competition. If compared on the basis of the no. of titles won, CSK are at no. 2 with 4 IPL titles and 2 Champions League titles, while Mumbai Indians are at the top with 5 IPL titles and 2 CL titles, but on the basis of no. of playoffs qualification, CSK are miles ahead of the rest.
MS Dhoni is a massive reason behind CSK becoming a sports unicorn
The Super Kings enjoy a massive fanbase all across the country and not just in Chennai where they are based. While their captain MS Dhoni, one of the biggest cricketing superstars the country has ever seen, is the main reason behind it, the likes of Suresh Raina and Ravindra Jadeja have also played big roles in enhancing the franchise’s popularity in the entire country.
MS Dhoni will, however, not continue playing for a long time now and while he is likely to be associated with the franchise as a key part of their management set-up, it’s important for CSK to find a captain who can take Dhoni’s legacy forward, because if they have to maintain the market valuation that they have achieved, the team will have to continue being as consistent on the ground as they have been over the years.
#CSK becomes the 1st Sports Unicorn in #India
AdvertisementAchieves a Market Cap of $1 Billion in the Private Equity Market..
— Ramesh Bala (@rameshlaus) January 30, 2022
There have been a few murmurs that Ravindra Jadeja is someone whom CSK sees as a leadership option for future, but it remains to be seen if he is given the captaincy this season itself with Dhoni grooming him for a season or two before hanging his boots or Dhoni keeps leading the team himself.
