CSK’s Dhoni Dilemma: Will the brand outlive the icon?

For 15 seasons, the Chennai Super Kings (CSK) has not only been captained by MS Dhoni but personified by him. The cricketing legend is said to be inching closer to his final IPL chapter. And with every roar that erupts when he walks out to bat in jersey no. 7 or takes a diving catch, looms a question that's hard to dodge: What happens to CSK's brand when 'Thala' finally calls it a day?

Ayush Shukla, Founder of Finnet Media, revealed that “CSK may lose a staggering 15% of its brand value (₹154.33 cr) the day MS Dhoni retires. Because the franchise, valued at Rs 1,041.72 crore ($122 million) (the highest in the IPL team), was built around one man, not a system.”

And that isn’t just speculation. Over 50% of CSK’s fanbase, studies say, supports the franchise purely because of him, he quoted.

According to Qoruz data, on Instagram, he has 49.6 million followers, with an average of 11.2 million likes and 280.2K comments per post. His reels fetch an average of 37.5 million views, and his estimated reach on the platform stands at 55.4 million. His engagement rate is an impressive 23.10%.

His Facebook presence is equally strong, with 27 million followers. On average, his posts receive 29.4K likes, 1.3K comments, and 228 shares. On Twitter (now X), he has 8.6 million followers, with an average of 2.2K favourites and 648 retweets per post.

Interestingly, a large portion of his content leans towards football (40.74%), even more than cricket (33.33%). The rest covers arts and entertainment (7.41%), travel (3.7%), and gaming (3.7%). This may seem surprising for a legendary cricketer, but fans of his biopic will remember that Dhoni originally aspired to be a goalkeeper in school. But his sharp reflexes and quick movements stood out so much that his sports teacher nudged him toward cricket to fill in as a wicketkeeper.

That switch changed everything. From a small-town boy in Ranchi, Dhoni rose to become one of the most iconic wicketkeepers in the world. By the end of his international career, he had 829 dismissals to his name in 608 innings—behind only Adam Gilchrist (905) and Mark Boucher (998) in the global pecking order.

During the 2025 IPL season, Dhoni’s creator profile has grown by 2.20% in just 30 days. An overwhelming 95.16% of his followers are based in India. His Instagram performance far exceeds industry standards. While similar sports celebrities generate 24.75 views per 100 followers, Dhoni averages 75.51.

His audience is predominantly male (78.58%), with nearly half (49.37%) falling in the 25–34 age bracket. 

Despite playing for Chennai Super Kings, his top follower base comes from Mumbai (12.03%), followed by Delhi (8.77%), Pune (7.61%), Kolkata (6%), and Bengaluru (5.8%). Chennai accounts for 5.43% of his audience, followed by Hyderabad, Surat, Lucknow, and Ahmedabad.

In 2024, Dhoni topped 52 brand associations, surpassing stalwarts like Amitabh Bachchan, according to the TAM Celebrity Endorsement Report. 

Some of his recent and ongoing endorsements include Eurogrip Tyres, Garuda Aerospace, Cleartrip, Lay's, and EMotorad. He has also been involved in campaigns with Boost, Exide Life Insurance, and Dream11. He also has ongoing deals with brands like Mastercard, Gulf Oil, and Orient Electric, among others.

Whereas, CSK also flaunts a heavy sponsorship list—Rayzon Solar, Etihad Airways, Refex Group, Baashyaam Constructions, playR, and the newly roped-in EbixCash.

But the underlying thread connecting many of these associations is Dhoni, according to experts. Sponsors didn’t invest in a team—they invested in him.

Still in Demand

Even with retirement whispers growing louder, brands aren’t shying away from endorsing Captain Cool. 

Dhoni's campaign with Lays alongside Lionel Messi, which is going viral on the internet, is a clear example. The ad begins with Messi tapping the ball repeatedly with some light kicks, before he passes it on to Dhoni. The wicketkeeper-batter, known for his love for football, also shows off his skills in front of the football legend, all while eating Lays. 

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Who can forget his recent advertisement where he collaborated with EMotorad, an e-cycle player, in an advertisement with director Sandeep Reddy Vanga.

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There is another thing to notice: MS Dhoni in himself is a brand. He is known for his good ad deliveries; most of his ads have good recall rates as he is known to bring new charm to them. 

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He is also known for his hairstyles and hair endorsements. MS Dhoni and his wife Sakshi recently collaborated in advertisements for Garnier Black Naturals. The campaign features them promoting the brand's hair color, highlighting natural-looking hair transformation. 

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The power couple has also been seen together in a television commercial for Colgate Strong Teeth and, like Virat Kohli and Anushka Sharma, features on the list of celebrity couples favored by many brands.  

Apart from this, the cricketer is known for his love for motorcycles, cars, and a simple, army persona—calm life which many brands relate to. Unlike the common assumption that retired cricketers fade into BFSI ads, Dhoni is still riding a diversified portfolio—something even legends like Sachin Tendulkar, Kapil Dev and Rahul Dravid have begun to slowly diversify only recently.

Will CSK’s Yellow Shine Without Thala?

“MSD has been the most visible player of CSK—that too for 18 editions now. He has become 'Thala' and the mascot of Team Yellow. And he has won CSK the trophy many times. Crowds come to see a CSK match primarily to see and cheer for Dhoni,” said Sandeep Goyal, Chairman and Managing Director of Rediffusion. 

“Dhoni's exit will surely dent the CSK brand. Some of the fan following will be disappointed, so a decline in brand value of CSK is natural and expected. But if CSK gets back to their winning ways, then the Dhoni exit will be a temporary blip and it won't really matter after a time.”

But that’s a big if.

HashFame CEO Anirudh Sridharan puts it bluntly, “Unlike sporting dynasties like Barcelona post-Messi or Bulls post-Jordan, CSK has no clear post-Dhoni narrative. The emotional baton hasn’t been passed.” Even when Ruturaj Gaikwad took over the captaincy, he wasn’t projected as a ‘young maverick’ but rather a Dhoni protégé—failing to spark a new era in fan imagination.

This leaves CSK vulnerable. Nostalgia is powerful, but it has an expiry date. When a brand is built around one man, and not a system or a rotating cast of heroes, transitions become existential threats. And CSK is now at that critical juncture.

More Than a Farewell

And yet, all hope is not lost. Dhoni is not the kind to vanish overnight. If not in the jersey, fans might still see him in the dugout—as a mentor, an advisor, or the silent force behind the scenes. That continuity might soften the blow, giving CSK the room to reinvent.

Besides, as Anirudh points out, “CSK is not just a team. It’s a cultural institution rooted in regional pride, consistency, and storytelling that resonates beyond the boundary ropes.” Brands like Etihad and TVS may have arrived for Dhoni, but many stayed for the larger CSK ethos.

On the retirement front, it is hard to say. Dhoni has been re-appointed as the skipper of the Chennai Super Kings (CSK) in the ongoing Indian Premier League (IPL), as regular skipper Ruturaj Gaikwad has been ruled out due to a hairline fracture. He recently led CSK to a five-wicket win over Lucknow SuperGiants (LSG) and was adjudged Player of the Match for his exceptional wicket keeping and batting.

So “Thala for a reason” still has the same power to take wickets and conquer the ad world.