Virat Kohli’s brand value has gone through the roof after his recent success, or at least his self-evaluation will indicate so. The Indian cricket team captain is said to have hiked his endorsement fee, now demanding Rs 5 crore a day for all new contracts he is signing. Earlier, he would charge brands between Rs 2.5 and Rs 4 crore a day.
The hike will make the 28-year-old the highest paid brand ambassador in India, surpassing figures commanded by former captain MS Dhoni in his prime as well as those of Bollywood actors Ranveer Singh and Ranbir Kapoor. According to an estimate, Shah Rukh Khan and Aamir Kahan charge Rs 3-3.5 crore each per day.
According to a report in the Economic Times, the hike in fee was confirmed by representatives of two different brands that Kohli recently signed contracts with although the officials requested anonymity because of confidentiality clauses.
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By average industry standards, celebrities sign brand endorsement contracts with companies requiring them to make appearances for two to four days in a year. On these contract days, celebrities are asked to shoot television commercials, make appearances at events, address the media and/or speak with employees as the brand ambassador.
Ideally, if Kohli signs a four-day contract, he will be paid Rs 20 crore for the year to make appearances on four days for the brand.
Kohli made waves last month when it was announced that he had signed an eight-year contract with German sportswear brand Puma. According to reports, the deal is expected to earn Kohli Rs 110 crore.
In total, he endorses 18 brands which includes Audi cars, MRF tyres, Tissot watches, Gionee phones, Boost milk drink, Colgate toothpaste and Vicks lozenges.
He has also invested in several companies including a chain of gyms called Chisel, a technology startup company called Sports Convo, a fashion label named Wrogn and mobile game developer Nazara Technologies which creates online cricket games.
Brand value close to $92 million
According to a report of India’s most valued celebrities published by global valuation and corporate advisors Duff & Phelps in October 2016, Kohli’s brand value is estimated at $92 million. His recent success on the field and national team captaincy in all formats of the game is believed to have driven up his valuation by at least 30%. However, these values are mere estimations and not true figures.
Forbes’ valuation of richest sportspersons in the world for 2016 ranks football star Cristiano Ronaldo at the top. The Portuguese star earned $88 million in 2016 of which $32 million came from brand endorsements.
His football rival Lionel Messi was the second-richest sportsperson last year, earning $81.4 million with $28 million coming from endorsements.