PV Sindhu signs Rs 50 cr sports deal: Non-cricketers too scoring big in endorsements

Agencies
February 11, 2019

New Delhi, Feb 11: With India doing well in a range of Olympic sports in recent years, sportspersons in disciplines other than cricket have also started to score lucrative endorsement deals.

Olympic and World Championship silver medallist P.V. Sindhu is the latest non-cricketer to be associated with a mega sponsorship deal. The badminton star recently signed a four-year sports sponsorship deal for a whopping Rs 50 crore with Chinese sports brand Li Ning.

The record deal comes after K. Srikanth was offered Rs 35 crore over a period of four years by the company last month.

This is not the first time Sindhu and Srikanth have signed deals with Li Ning. According to media reports, both shuttlers were with the Chinese brand earlier before signing deals with Yonex.

Saina Nehwal, the other star women's badminton player in India, has deals with Kellogg, Iodex, Fortune Oil, Top Ramen and NECC.

Boxer M.C. Mary Kom is another non-cricketer to strike it big. The six-time world champion signed a deal with Bharat Sanchar Nigam Limited in September as their brand ambassador. The two-year deal will see the Olympic bronze medallist engage in promotional activities for BSNL for its various services.

Star athlete Hima Das has also joined the bandwagon. The Asian Games and World U-20 champion signed an endorsement deal with sports equipment manufacturer Adidas in September last year.

The Assam athlete has also become the brand ambassador for YONO, SBI's integrated digital banking platform, and Edelweiss. She has also become the first Indian sportsperson to be a UNICEF Youth Ambassador.

Cricket however, continues to rule the roost. Indian cricket team captain Virat Kohli has emerged as the most valued celebrity in the country for the second successive year with an estimated brand worth of $170 million.

Virat signed a Rs 110 crore deal with sportswear giant Puma in February 2017. The agreement is supposed to last eight years. Apart from that, he also has deals with a host of other brands including Wrogn, MuveAcoustics, Too Yumm, Tissot, Manyavar, Royal Challenge, American Tourister, Boost Energy Drink, MRF Tyres, Uber India, Remit 2 India and Philips.

The Delhi batsman had dethroned Bollywood star Shah Rukh Khan as the most valued celebrity in India for the first time in 2017.

Italian luxury sports watchmaker Panerai had announced former India captain Mahendra Singh Dhoni as their brand ambassador for India in December 2018.

The Indian women cricketers have also bagged their share of sponsorships with star player Smriti Mandhana being appointed the brand ambassador for Alcon, also in December last year.

The greatest cricketer of them all, Sachin Tendulkar, however, continues to be a hot target for brands even several years after his retirement.

The legendary batsman has sponsorship deals with Pepsi, Boost, Adidas, Apollo Tyres, Luminous Power, True Blue and NECC apart from several other brands.

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News Network
March 22,2024

IPL.jpg

The start of the world’s most lucrative cricket tournament in India is presenting investors with another big opportunity to cash in on the sport, months after the world’s most populous nation hosted the Cricket World Cup.

The eight-week long Indian Premier League begins March 22 for its 17th season. Since its inception, the fast-paced cricket tournament has become a corporate juggernaut to rival the National Football League in the US and the English Premier League in value.

Just as October’s Cricket World Cup boosted consumption in India for months, fans are expected to flock to restaurants, pubs and food delivery platforms over the duration of the tournament. This year’s IPL also coincides with general elections that will last for six weeks starting April 19, a period when companies are expecting higher food and drink sales as people flock to rallies and other events.

“There’s going to be a lot of spending,” said Madan Sabnavis, chief economist at Bank of Baroda. “IPL, as well as the election, gives a three-month corridor with enhanced economic activity.”

Stocks in India such as McDonald’s franchise operator Westlife Foodworld Ltd. and peer Sapphire Foods India Ltd. gained ahead of the first match on Friday, as well as hotels and beverage makers. Packaged-food companies could also stand to benefit from the IPL craze, said Sachil Bobade, an analyst at investment firm Dolat Capital Market.

The IPL ecosystem was valued at $11 billion (Rs 91,721 crores) in 2023, including the value of media rights and sponsorships, according to Indian valuation consulting firm D&P Advisory.

The league is also attracting record sums of money from sponsors and broadcasters. Conglomerate Tata Group won the title sponsorship rights of the tournament in January for a record 25 billion rupees ($300 million). Billionaire Mukesh Ambani’s media venture secured the digital streaming rights in 2022 for five years for $2.7 billion, while Walt Disney Co. paid roughly the same for TV rights.

“There was a serious amount of bidding even this year,” said Vinit Karnik, head of entertainment, esports and sports at media agency GroupM South Asia. “I see growth in IPL in double digits year-on-year,” he adds.

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