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Hit by the coronavirus pandemic, the Indian Premier League (IPL) lost 3.6 per cent of its brand value to Rs 45,800 crore in 2020, says a brand valuation report. In 2019, the IPL commanded a brand value of Rs 47,500 crore, which had grown 7 per cent over the previous year. Though one of the key franchises, the Mumbai Indians -- owned by the Reliance Group -- has retained the top spot in the brand rankings for the fifth consecutive year at a brand value of Rs 761.0 crore, it is down 5.9 per cent from 2019, Duff & Phelps said on Wednesday releasing the seventh edition of its valuation report on IPL. Chennai Super Kings (CSK) and Kolkata Knight Riders (KKR) have seen their brand value erode by 16.5 per cent and 13.7 per cent, respectively, from 2019. While CSK's value dropped from Rs 732 crore to Rs 611 crore, that of KKR declined from Rs 629 crore to Rs 543 crore, the report said. Duff & Phelps, which specialises in brand valuation, said the pandemic-hit 2020 was challenging ...