Cricketers still earn more from brand endorsement deals than top athletes in India
Olympic medal winner Sakshi Malik, spectacular ‘Produnova’ vault performer Dipa Karmakar or the new rising star of India PV Sindhu, who already secured an Olympic silver medal in badminton at Rio de Janeiro, may grab some huge monetary rewards thanks to their performances but in terms of brand endorsements and brand valuations, the athletes are far behind cricketers.
This scenario is routine in India because top brands and companies only look for popularity and glamour quotient in a sportsperson, and in this case, cricketers are far ahead than any of the other sportspersons in the country.
Despite the emergence of multi-sport leagues, it will take some time for athletes of other sports to gain commercial benefits in terms of endorsement deals.
Neerav Tomar, Managing Director, and CEO, IOS Sports & Entertainment spoke to The Hindu about this issue, “There is a huge difference in the endorsement fees commanded by an Olympian and a cricket star.
“A top cricketer may earn Rs 4-5 crores for a brand endorsement deal.
“A top athlete who has excelled in a non-cricket sport may at best earn Rs 80 lakh-1 crore in endorsement fees.”
Most of the companies are still conservative when it comes to betting on any sports personalities other than cricket. Though companies like the JSW group and the Reliance Foundation do invest in the development of sports at the grassroots level, most of the companies in the country are still waiting for these athletes to perform consistently before taking a decision to invest in them.
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Athletes like Leander Paes, Vijender Singh, Sania Mirza and Saina Nehwal are among the few exceptions who have secured remunerative brand endorsement deals but even their fees are said to be lower than what a cricketer earns.
N Chandramouli, CEO of brand insights firm TRA, added: “Some athletes may have managed to break the glass ceiling but it’s not enough.
“Brand managers and marketing heads need to get out of their comfort zones and leverage these sports icons to reach out to their target audiences instead of carpet bombing their campaigns by associating with cricket,” he said.
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However, Indranil Das Blah, Partner, Kwan Entertainment & Marketing Solutions, shed led light on the fact that not all cricketers sign up for mega endorsement deals.
“Not all cricket stars earn hefty endorsement fees.
“Only a few top cricketers earn hefty deals. The next rung of cricketers earns as much as the top athletes who have consistently performed well in Olympic sports,” he said.
The situation is changing slowly as athletes like PV Sindhu, Sakshi Malik, and Dipa Karmakar have already won the hearts of every Indian and we can hope for the time when they are seen on the same level as our cricketing heroes by companies and brands.