Rhiti Sports Management and Mindscapes One will now be in charge of managing all the endorsements of Dhoni. Sources said the deal stands for three years.
Dhoni's deal surpasses that of even Sachin Tendulkar, who in 2006 had a three-year deal worth Rs 180 crore with sports management firm Iconix.
Apart from Dhoni, Rhiti Sports also manages cricketers R.P. Singh and Harbhajan Singh.
Dhoni is associated with over 22 brands. Among them are PepsiCo, Reebok, Aircel, Godrej and Hershey's. On an average, he charges up to Rs 6 crore a year for an endorsement.
For Rithi Sports, the deal wasn't easy to strike. Big management firms like IMG, Percept Group, the Sunil Gavaskar-promoted PMG and World Sport Group were in queue.
The Arun Pandey-led Rithi Sports bagged the deal since Dhoni is a close confidante and business associate of Pandey.
Mindscapes One, the other part of the firm, is run by Pratik Sen, who has been managing Dhoni's deals since over a year now.
Sources said Sangeet Shirodkar has been appointed marketing president of the joint venture between the two talent management firms.
Agencies earn up to 30 per cent of the endorsement charges of the client it manages. With the World Cup and numerous other series lined up, the deal is being touted as a huge money-spinner for everyone involved.
0 comments:
Post a Comment