Yuvi scores big in brand game
New Delhi: Yuvraj Singh, who has become the hero of ICC World Cup 2011 after several imperious performances, is set to charge a premium of 25-30 per cent on his endorsement deals. However, whether the brands will play ball remains to be seen.
As per industry estimates, Singh charges around Rs 3-4 crore per endorsement deal, which will now go up. Confirming the development, Ambika Sajdeh, general manager of Cornerstone Sports and Entertainment, the agency that looks after endorsement deals of Singh, said, 'There will definitely be a hike of around 25-30 per cent on the amount charged by the star per endorsement.'
Despite the fee hike, several brands are showing interest in the star, claims the agency. 'There have been three new brands in beverage, automobile and alcohol space who have approached us during the World Cup looking at his astounding performance. More offers are likely to come after the tournament,' said Sajdeh.
In these categories, Singh has been associated with brands like Seagrams, Fiat and Pepsi. But the contracts for each of these associations have ended either last year or this year. 'Some brands associated with him earlier, including Pepsi, are showing interest in him. Moreover, three new offers from brands that have never used him as a brand ambassador has approached us as well. Some brands sponsoring Pune Warriors are also interested in him,' added Sajdeh. She, however, declined to name the brands. The deals are likely to be closed after World Cup and Singh will be seen with new brands during and after IPL.
But when contacted Pepsi to confirm whether they are willing to renew the contract with the cricketer, an executive declined to comment. However, Fiat and Seagrams ruled out the possibility of renewal of contract with the star. 'Yuvraj's contract as brand ambassador with Fiat's Grande Punto ended last year and the company has no plans to renew it,' said Fiat India spokesman Marius D'Lima. Pernod Ricard India, owners of Seagrams' mass whisky brand Royal Stag, said they are unlikely to continue with Singh, whose contract has come up for renewal. Singh is presently associated with brands like Reebok, Revital, Parachute, and Birla Sun Life Insurance.
Explaining Yuvraj's comeback in the brand circle, Sajdeh said, 'This is definitely a comeback for Yuvraj after a lean period both in cricket and brand circle. Since the tournament is happening in India, Yuvraj's performance seems to have greater impact on consumers' mind this time.' So far in the World Cup, Singh has made 341 runs and taken 11 wickets.
Not just Singh, other players too are expected to start charging 30 per cent more on their existing fee if India happens to beat Pakistan in the coming semifinal. 'If we win, the players will ask for a 30 per cent hike. And winning the World Cup may double their endorsement charges. But losing the last match can change the entire ballgame,' said Indranil Das Blah, COO at Kwan Entertainment & Marketing Solutions.
Meanwhile, ESPN-Star Sports, the official broadcaster of the tournament, which is charging a high premium for less than 5 per cent inventory, is yet to find takers, according to media planners. 'None of my brands are participating in the tournament. And now there's nothing much to participate. At max, the broadcaster can sell an additional 100-200 seconds and can accommodate two more brands. But brands need to have a very definitive requirement to take part by shelling out around Rs 1 crore a day,' said, Sanjoy Chakrabarty, chief operating officer, Dentsu Media India.
Nandini Dias, COO of Lodestar Universal, said, 'I'm not aware of any brands willing to buy spots at such high premium.' However, the official broadcaster says there is no difficulty to sell the remaining inventory. Sanjay Kailash, executive vice-president, Ad Sales & New Media, ESPN Software India, said, 'There is extremely limited inventory left with us and the rates for them are substantially higher than what they were at the start of the tournament.'
New Delhi: Yuvraj Singh, who has become the hero of ICC World Cup 2011 after several imperious performances, is set to charge a premium of 25-30 per cent on his endorsement deals. However, whether the brands will play ball remains to be seen.
As per industry estimates, Singh charges around Rs 3-4 crore per endorsement deal, which will now go up. Confirming the development, Ambika Sajdeh, general manager of Cornerstone Sports and Entertainment, the agency that looks after endorsement deals of Singh, said, 'There will definitely be a hike of around 25-30 per cent on the amount charged by the star per endorsement.'
Despite the fee hike, several brands are showing interest in the star, claims the agency. 'There have been three new brands in beverage, automobile and alcohol space who have approached us during the World Cup looking at his astounding performance. More offers are likely to come after the tournament,' said Sajdeh.
In these categories, Singh has been associated with brands like Seagrams, Fiat and Pepsi. But the contracts for each of these associations have ended either last year or this year. 'Some brands associated with him earlier, including Pepsi, are showing interest in him. Moreover, three new offers from brands that have never used him as a brand ambassador has approached us as well. Some brands sponsoring Pune Warriors are also interested in him,' added Sajdeh. She, however, declined to name the brands. The deals are likely to be closed after World Cup and Singh will be seen with new brands during and after IPL.
But when contacted Pepsi to confirm whether they are willing to renew the contract with the cricketer, an executive declined to comment. However, Fiat and Seagrams ruled out the possibility of renewal of contract with the star. 'Yuvraj's contract as brand ambassador with Fiat's Grande Punto ended last year and the company has no plans to renew it,' said Fiat India spokesman Marius D'Lima. Pernod Ricard India, owners of Seagrams' mass whisky brand Royal Stag, said they are unlikely to continue with Singh, whose contract has come up for renewal. Singh is presently associated with brands like Reebok, Revital, Parachute, and Birla Sun Life Insurance.
Explaining Yuvraj's comeback in the brand circle, Sajdeh said, 'This is definitely a comeback for Yuvraj after a lean period both in cricket and brand circle. Since the tournament is happening in India, Yuvraj's performance seems to have greater impact on consumers' mind this time.' So far in the World Cup, Singh has made 341 runs and taken 11 wickets.
Not just Singh, other players too are expected to start charging 30 per cent more on their existing fee if India happens to beat Pakistan in the coming semifinal. 'If we win, the players will ask for a 30 per cent hike. And winning the World Cup may double their endorsement charges. But losing the last match can change the entire ballgame,' said Indranil Das Blah, COO at Kwan Entertainment & Marketing Solutions.
Meanwhile, ESPN-Star Sports, the official broadcaster of the tournament, which is charging a high premium for less than 5 per cent inventory, is yet to find takers, according to media planners. 'None of my brands are participating in the tournament. And now there's nothing much to participate. At max, the broadcaster can sell an additional 100-200 seconds and can accommodate two more brands. But brands need to have a very definitive requirement to take part by shelling out around Rs 1 crore a day,' said, Sanjoy Chakrabarty, chief operating officer, Dentsu Media India.
Nandini Dias, COO of Lodestar Universal, said, 'I'm not aware of any brands willing to buy spots at such high premium.' However, the official broadcaster says there is no difficulty to sell the remaining inventory. Sanjay Kailash, executive vice-president, Ad Sales & New Media, ESPN Software India, said, 'There is extremely limited inventory left with us and the rates for them are substantially higher than what they were at the start of the tournament.'
News Posted: 29 March, 2011
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