» Business » Team India set to score Rs 100 crore

Team India set to score Rs 100 crore

By T R Vivek in New Delhi
April 02, 2004 07:44 IST

Team India is set to score a crackling century on a different pitch. The endorsement market for Sourav's boys is expected to grow nearly 40 per cent to nudge Rs 100 crore (Rs 1,000 million) from the current Rs 70 crore (Rs 700 million) after their initial success in the Indo-Pak cricket Test series.

"It isn't just the usual stars like Tendulkar, Dravid or Ganguly who succeeded, there were plenty of new names that came into the limelight. So, besides the value of established stars going up, the entire pie will grow with new players entering the endorsement market," said Yannick Colaco, assistant vice-president (player management), Worldsport Nimbus, which recently signed up VVS Laxman.

"The interest level of viewers has gone up hugely and there is a feel-good factor about the team which makes all the players highly saleable," he added.

Virender Sehwag 's manager Latika Khaneja, who runs Collage Sports Management, said the value of a player like Sehwag could easily double after his triple ton. "We will definitely negotiate for a much higher sum while signing new contracts and renewing existing ones," she said.

Industry sources said new stars like Irfan Pathan and Laxmipathi Balaji would soon be hot properties in the endorsement market, fetching around Rs 2-3 crore (Rs 20-30 million) each, after their stupendous performance in Pakistan.

Atul Sobti, senior vice-president (marketing) Hero-Honda, said the new performers were bound to get good deals. While refusing to give out figures, he added, "We have multi-year agreements with cricketers Ganguly, Yuvraj and Kaif. There are clauses in the agreement which guarantee them performance bonuses. But it's not just a question of the odd good display but sustained performance that earns them the hikes."

The player management business is dominated by players like WorldTel, which has a Rs 100-crore five year deal with Tendulkar; Percept D'mark, which manages skipper Ganguly and Yuvraj Singh; and CSM.

According to industry estimates both Dravid and Ganguly have contracts worth Rs 10 crore (Rs 100 million) while Laxman is worth Rs 5 crore (Rs 50 million). According to Khaneja, Sehwag currently endorses nine brands. His existing clients like Samsung, Reliance and Coca-Cola might have to fork out a huge premium now. Nimbus' Colaco said that he already had three lucrative offers lined up for Laxman.

T R Vivek in New Delhi