After clinching a hard-fought silver medal in the recently-concluded Rio Olympics, Indian shuttler PV Sindhu's heroics has now earned her a Rs 50 crore deal with a sports management firm for three years.
According to media reports, the Rs 50 crore deal signed by Sindhu with the company Baseline Ventures is the highest-ever for any non-cricket player. Baseline Ventures - a sports marketing, entertainment and a brand licensing firm - will now manage Sindhu's profiling and endorsements.
"Her soaring popularity has attracted the attention of so many companies. In the next three years, we will work to maximise her value. Even after achieving stupendous success, her humility and the value she brings to women power is remarkable," Tuhin Mishra, managing director and co-founder of Baseline Ventures, told The Times of India.
As many as 16 companies have queued up to sign Sindhu for endorsing their products and the ace shuttler is currently in the final stages of signing with nine of those firms.
"So far we have finalised nine companies. Maybe by the end of next week we will be signing with them. As for the rest, we are yet to take a decision," Mishra was quoted as saying.
While cashing in on her popularity, Sindhu's decision not to endorse brands with a 'negative' influence on the youth like Cola brands is surely remarkable.
As per her deal, Sindhu will receive a certain amount of guarantee money upfront every year while the rest will depend on her endorsements. "I can't give a figure now but given the response that we are getting and the sponsors we have on board, Sindhu's will be the best deal that a non-cricket star can get," Mishra concluded.
Earlier this year, Sindhu had also received rewards worth around Rs 13 crore from multiple state governments and well-wishers following her success in Rio.