Vijender Singh has become the first Indian boxer to sign a multi-crore deal with a sports management firm.
Hindustan Times has learnt that the contract is worth Rs 5 crore.
A source close to the 23-year-old pugilist said he had left his former management company for Percept.
Singh, bronze-medallist at the Beijing Olympics, signed the contract in Milan, where he is competing in the World Championships. He has entered the semi-finals and is assured of a medal.
Though Singh’s deal does not compare with cricketer Sachin Tendulkar’s Rs 100-crore contract with WorldTel, it will boost the image of Olympic sports.
Besides endorsements, Singh’s contract covers reality shows and adventure sport events. “Vijender is quite upbeat about the deal,” said the source.
But Infinity Optimal Solutions, which has handled Singh so far, cried foul and said the deal with Percept was a breach of contract.
How they compare
What top Indian sportsmen (among non-cricketers) earn from endorsements:
Leander Paes and Mahesh Bhupathi have earned about Rs 5 crore each Sania Mirza earns about Rs 10 crore a year. She has made about Rs 50 crore in all Saina Nehwal has an estimated guarantee of Rs 1 crore each year, for three years, from Deccan Chronicle Abhinav Bindra has earned over Rs 4 crore since 2008