IPL 2014: Brand values of IPL franchises

#5 Rajasthan Royals - $45 million

Champions in the inaugural season of the Indian Premier League, the Rajasthan Royals are the eternal underdogs on paper. Known for providing opportunities to unknown, local talent, the Royals have always tended to punch well above their weights.

The franchise was purchased for $67 million by Manoj Badale, the chairman of Emerging Media Group. In 2009, Raj Kundra, in partnership with his wife Shilpa Shetty bought a share of 11.7% in the franchise. Royals are valued at $45 million, making it the fifth most valuable franchise in the IPL. The franchise is sponsored by Ultratech Cement, TCS, Integrity, Supertech, and Amity University.