New Delhi: With the world under their feet after lifting the World Cup, Dhoni’s daredevils are also set to stamp their authority in the endorsement market with their brand equity set to touch new highs.
While the historic win will push captain Mahendra Singh Dhoni to a new trajectory in the branding business, others like Yuvraj Singh will also see a rejuvenation while even youngsters such as Virat Kohli and Suresh Raina are tipped to benefit immensely. As for the master blaster Sachin Tendulkar, the win will re-enforce his already strong brand equity.
“The brand value of team India will grow multi-fold. A lot of brands and companies would want to get associated with the cricket players. The victory has not only benefited the top most popular players, but also the other young cricketers who earlier did not get enough attention,” Madison World’s Sports Management Company, PMG chief operation officer Melroy D’Souza said.
The endorsement fee charged by players will definitely increase by about 20% or so, but yes the number of brands currently being endorsed by each cricketer will increase, he added.
Expressing similar sentiments, Rhiti Sports Management Promoter Arun Pandey, who manages MS Dhoni’s account, said: “The positive thing about the World Cup victory is that it will give an opportunity to other players also to create their brand value in the market.”
The people’s reaction and the celebrations after the victory have proven once again that cricket is the biggest religion in India. Indians are emotional people and corporates know how to benefit from that, he added.
The man to benefit the most is Dhoni, who has now been hailed as the greatest Indian captain after leading the team to number one position in all the three formats of the game.
“Dhoni was already a brand before the World Cup with around 23 brands in his portfolio. But now we want to take the market of brand endorsement to the next level,” Pandey said.
The firm is considering different models of partnership with companies, moving beyond a simple fee-based tie-ups for Dhoni.
“This win has made our task very easy. Now we can demand and negotiate better deals from companies,” he added.
According to industry sources, Dhoni’s value is estimated at around Rs 10 crore per year per brand.
Besides Dhoni, Rhiti Sports Management handles accounts for other cricketers including Harbhajan Singh, RP Singh and Suresh Raina.
“We will have to focus on managing the four cricketers that we currently have with us,” Pandey said.
PMG, which manages Virender Sehwag’s account, is already busy negotiating new deals for the Nawab of Najafgarh.
“We are at advanced stage of negotiation with at least two companies -- one is a cement brand and the other is a watch brand. The deals should be announced in a week’s time,” D’Souza of PMG said.
Sehwag right now endorses about 11 brands, including Pepsi. According to industry sources, his current endorsement value is estimated anywhere between Rs 1.75 crore to Rs 2.25 crore per annum.
Madison currently manages Sehwag’s account and is in talks with more players to expand the portfolio.
“By the end of this year, we should be managing atleast 2-3 more players. The World Cup provides a great opportunity to us,” D’Souza said.
The Man of the Tournament of the World Cup, Singh is also set to become a hot property in the endorsement market. Companies are already queuing to sign him up. Fiat India, which had in the past used Singh to promote its hatchback Punto, is already considering to engage him again.
“Like our brand in India, Yuvraj has also make a strong comeback in this world cup. Our brand has a lot of similarity with Yuvraj and he perfectly fits as our brand ambassador. Although he is not endorsing our brand right now, but I think we will try to use him in future,” Fiat India president and CEO Rajeev Kapoor said.
Asked if the company would consider roping in other cricketers, Kapoor said: “We are not looking at any other cricketer to endorse our brand.”
Even before the World Cup began, many companies had signed up cricketers to endorse their brands. Tendulkar was roped in by Castrol and Pune-based realtor Amit Properties, while consumer electronics maker Sony signed up Dhoni.