Virat Kohli hikes endorsement fee to Rs 5 crores a day
Riding the wave of a successful home Test season, India captain Virat Kohli has hiked his endorsement fee to a staggering Rs five crores a day. It is the highest brand endorsement fee by any Indian celebrity, and the increase comes after his contract renewal with Pepsi.
The premier batsman's endorsement fee ranged between Rs 2.5 crore to Rs 4 crores earlier, reports said. Kohli is currently the most expensive Indian celebrity in terms of brand endorsements and is now on the elite list with international sports stars.
The hike in fee has come after the renewal of the explosive batsman's contract with Pepsi and has been confirmed by officials from two different brands on conditions of anonymity. With this, Kohli has surpassed MS Dhoni when he was at his peak and has even left Bollywood heartthrobs Ranbir Kapoor and Ranveer Singh behind.
Cornerstone Sport the company, who represent Kohli, declined to comment on the fee hike. They said that Kohli is contracted with Pepsi until April 30 and the contract renewal is still being negotiated. The company said that the partnership has benefited both parties and that they hope to continue.
Companies sign contracts with players for 2-4 days in a year. These days are reserved for shooting, events, fan and media interactions. This means that the contract will be a 20crore/year contract for Kohli.
PepsiCo ended their 11-year long association with the former captain Dhoni. According to market experts, the company is ready to give in everything to keep the contract with the current captain intact.