- Published on Wednesday, 04 December 2013 19:30
- Written by Troy Dodds
The Penrith Panthers have emerged as the most valuable sporting brand in the country.
The research by Brand Finance and Landor Associates ranks the Panthers' worth at $46.2 million.
That's higher than any other sporting brand in the country including the highly respected AFL club Collingwood, which comes in at second on the list with a value of $39.1 million.
The news is a huge vote of confidence in Phil Gould, Warren Wilson and Penrith's new management team that has worked to bring the club back from the brink of collapse.
It is also a huge boost to the club's corporate sponsorship team who will most likely use the statistic to help further boost sponsorship opportunities.
Just one other NRL club was in the top 10 this year - the Bulldogs, who came in third with a value of $34.5 million.
The rest of the top 10 is filled with AFL clubs.
“Branding is important to sports teams because it validates their ability to generate value both on and off the field," said Richard Haigh, Brand Finance Australia, Director.
"This is particularly true amongst Aussie Rules brands which excite incredible brand loyalty but even they were pipped by the Penrith Panthers."
The Panthers Group businesses have closely associated the brand successfully with the elite team to create a strong business, which has resulted in the high valuation.
Commenting on the results Dominic Walsh, Landor Australia, Managing Director, said: “There’s no doubt that the AFL goes deeper in the Australian Psyche than NRL – this goes back to its unique Australian Heritage.”
Brand Finance, the world’s leading brand valuation consultancy, advises strongly branded organisations on maximising their brand value through effective management of their brands and intangible assets. Founded in 1996, Brand Finance has performed thousands of branded business, brand and intangible asset valuations worth trillions of dollars.
For the Panthers, the number one ranking gives the club a huge advantage in a market crowded by bigger clubs and rival codes.