IPL's brand value has increased 26% in 2017 to over $5.3 billion (approximately ₹34,000 crore), according to a report by corporate finance advisory firm Duff & Phelps. The brand values of the individual teams rose 34% on average in 2017 compared to 2016, the report added. Mumbai Indians, with a brand value of $106 million, ranked highest among individual franchises.