Rise Worldwide, a leading sports marketing agency in India, manages Rohit Sharma, Jasprit Bumrah, Suryakumar Yadav, and Hardik Pandya, who collectively endorse 89 brands across 35-40 categories.The agency had already signed about 10 endorsement deals before the World Cup and anticipates an increase in the coming days.
Nikhil Bardia, head of Rise Worldwide, stated, “What this result (the T20 World Cup win) does is fast-track a lot of deals that were being negotiated.”
The value of these deals will depend on market dynamics and the brand image created by the cricketers themselves. Industry sources told ET that top players like Sharma and Virat Kohli charge between Rs 3.5 crore and Rs 7 crore per deal, while other top players like Bumrah, Yadav, and Pandya command a deal value in the range of Rs 2-3 crore.
Deals For Cricketers
Tuhin Mishra, MD of Baseline Ventures, suggests that the bigger players, particularly the batsmen, will be the biggest beneficiaries of India’s T20 World Cup victory in terms of endorsements. However, he hopes that this time, the bowlers will also receive recognition for their stellar performance in the recent World Cup and the ODI World Cup in 2023.
The ability of sports marketing agencies to secure a larger share of the spoils for their clients will also play a significant role in determining the endorsement landscape.
Aviral Jain, MD of valuation advisory services at Kroll, believes that India’s long-awaited victory at an ICC event presents a golden opportunity for cricketers to attract newer brands and potentially secure global endorsements.
He expects a double-digit percentage increase in brand portfolios and a possible push in endorsement fee levels, with a reasonable assumption of a 15-20% uptick given their current brand values. Despite the sluggish ad market, Jain believes that cricketers will remain a popular choice for brands during the upcoming festive season when brands increase their ad spending.
