Young guns to blaze in future endorsement market

Young guns to blaze in future endorsement market
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First Published: Sun, Nov 04 2007. 03 54 PM IST
Updated: Sun, Nov 04 2007. 03 54 PM IST
PTI
New Delhi: Post T20 World Cup success and subsequent dropping of senior player Rahul Dravid from the One-Day cricket team, celebrity managers say a change of guard is already on in the endorsement market with the likes of Yuvraj Singh and MS Dhoni commanding over Rs2 crore each.
The managers, however, also feel that the younger players, specially Yuvraj who has been reportedly offered Rs100 crore in six years, face overvaluation risk.
“People will follow performance and put their money on players who are showing results. After 24 years, India has got a world cup because of the T20 players so the endorsements are now going to those players now,” Anir Ban of Globosport told PTI.
He said in the absence of Dravid, Sachin Tendulkar and Sourav Ganguly, players like Yuvraj and Dhoni have taken over the mantle of senior players, specially in the T20 format.
“Yuvraj and Dhoni are the hottest selling names worth around Rs2 crore each. While the younger players like Rohit Sharma and Uthappa are charging Rs30-40 lakh per endorsement,” Ban said.
Echoing similar views, Collage Sports Management Director Latika Khaneja said Dravid’s brand equity has taken a beating due to the recent developments.
“His brand equity began to erode once he ceased to be Indian captain. He is a player who has already hit the peak with a longer past and a shorter future,” Khaneja said.
In terms of his future brand positioning, he would remain as someone like Kapil Dev who also achieved things and maintain a certain equity, but it would not go up in terms of valuation which is related to performance, she added.
The views are, however, hotly contested by Dravid’s manager saying brand valuation of players based on T20 success would be difficult as the format still remains to be one off fixtures.
“We don’t see any decline in his brand value. A brand is not built overnight. Brand Dravid has behind it 12 years of unparalled achievements. He represents consistency, performance, fairplay and dignity. All these values remain with him,” said Jasmeet Arora of 21 Century Media.
Dravid endorses 11 brands, including Bank of Baroda, Gillete and Castrol. On the issue of the brand value of young players, some feel current values quoted for the young guns are not sustainable.
“The Rs100 crore that is reportedly being offered to Yuvraj is too much. How can one guarantee form for six years? Endorsements are based on performance and any sensible manager would not take such a risk,” Khaneja said.
Percept Talent Management, which has so far been handling Yuvraj’s account, however, refrained from commenting on the issue.
“The contract (with Yuvraj) would end very soon and we are negotiating with him the new offer and waiting for him to revert,” Percept Talent Management’s COO Vinita Bangard said.
She said the company has to wait for some time to see how it can take the discussions forward. Yuvraj Singh endorses around ten brands that include Microsoft, Reebok, Pepsi and Hero Honda.
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First Published: Sun, Nov 04 2007. 03 54 PM IST