Varma’s stock rises, on and off the pitch

At 20, the left-hander in contention for a World Cup berth is set to ink a multi-year deal with a sports apparel major

There are hits and there are misses in the brand bazar. While Virat Kohli was lapped up early by big brands, MS Dhoni’s first brand association wasn’t for sports apparel or cola but a soap deal that ended before it was supposed to. Which makes it interesting to see how the partnership between brands and Tilak Varma, India’s latest middle-order batting hope, develops.

India's Tilak Varma plays a shot for 4 runs against West Indies during the T20I series earlier this month(AP)

Varma, the Mumbai Indians star, is set to ink a multi-year deal with a sports apparel multinational – the official announcement is expected soon. Post-Covid, the deal could mark a revival of sorts for this popular category to invest in young Indian cricketers.

If Varma makes it to India’s ODI World Cup squad, he would be celebrating his 21st birthday during the competition. Even if he misses the cut, the elegant left-hander is expected to play a crucial part in next year’s T20 World Cup.

Varma now plays with a bat made by Sarin Sports (SS), the Indian sports goods company. He endorses NFT company FanCraze and IRA Realty in the real estate segment. Other multi-year deals – one with a fantasy gaming major, an audio and wearable partner as well as a leading beverage brand – are likely to be formalised soon.

Once that happens, it would make for an impressive portfolio for the 20-year-old who has played seven internationals.

“We have been in no hurry to build his portfolio but let his cricket speak. Now that he has made an impact, we will sign the right brands which will activate and position him before looking at the second round of value increase,” said Nikhil Bardia, head of Sponsorship Sales and Talent at RISE Worldwide which manage Varma.

“The top brands look to sign someone with long-term potential rather than tactical signings. They want to get athletes when they are younger. When you wait a year longer, the price point goes up,” he said.

Varma made his Ranji Trophy debut aged 16 which means he already has four years’ experience in domestic cricket. But it’s the back-to-back successful IPL seasons (25 matches, 740 runs, SR 144.53) that had his franchise and India captain Rohit Sharma gushing. His ability to soak pressure and counter-attack against top bowlers in IPL also caught the attention of the national selectors and earned him a spot in India’s 17-member Asia Cup squad. From first being picked in T20Is, now ODIs, Varma is tipped to graduate to become an all-format player with his organised red-ball technique.

Varma doesn’t command eight-figure pay cheque from endorsement deals although his IPL salary ( ₹1.7 crore) has helped him overcome financial difficulties.

The upcoming star wasn’t shy in saying he was ‘poor’ during his early years in cricket. “I would see my father (an electrician) work so hard, day and night without complaining,” he told HT before his first IPL. “I would use only one bat, thread it and use fiber tapes and somehow manage.” His humble beginnings add another narrative to his brand building.

Varma’s brand could be in direct competition with Yashasvi Jaiswal, another young talented left-handed batter who faced economic hardship while growing up. But India’s white-ball top order is loaded with options. Varma is being seen as someone who could look to fill Yuvraj Singh’s shoes as a middle-order craftsman.

"When big brands sign up, it helps the athlete’s brand value significantly. That’s the honest truth,” said Bardia. “The player will make money over a period of time, but it also gives confidence to future brands.”

Industry sources say Varma commands anything in the range of ₹35-40 lakhs per day from endorsements. He is yet to feature in a television commercial but with digital content emerging as a viable medium, brands have his 1 million strong and growing Instagram following to leverage.