India’s cricket captain Virat Kohli has possibly become the highest-paid celebrity in the country after hiking his endorsement fee to Rs 5 crore per day, according to a report in The Economic Times on Friday.
The hike was confirmed to the publication by two unnamed officials. According to them, this fee not only surpasses what Mahendra Singh Dhoni charged at his peak, but also the fees charged by Hindi film stars like Ranveer Singh and Ranbir Kapoor.
Kohli’s fee earlier ranged between Rs 2.5 crore to Rs 4 crore per day and the increase comes as the Indian captain is reportedly uncertain about renewing his endorsement deal with PepsiCo. As per sources quoted in the report, this is because of the health concerns associated with colas.
“Virat is contracted with Pepsi until April 30. We are currently negotiating a contract extension with the Pepsi-Co team,” said Bunty Sajdeh, the CEO of Cornerstone Sport, the agency that represents Kohli, to Economic Times. “Pepsi has been one of our longest and most fruitful associations until now and hopefully we will collaborate with them for years to come.”
PepsiCo also remained tight-lipped and told the publication that the company was in “active discussions” to renew the same.
Since, the cola company ended its association with MS Dhoni last year, experts quoted in the report said that PepsiCo would go all out to retain the contract with Kohli.
“Cola is a troubled category for now and in this case, the company will certainly be keen on extending the contract,” brand consultant Harish Bijoor said. “Apart from form, Virat represents panache and style, which is what a cola brand looks for.”
With this hike in his endorsement fee, Kohli has easily become the most-valued cricketer in the world. In February, he caused a flutter by becoming the first Indian sportsperson to sign a Rs 110-crore, eight-year deal with Puma. A report in 2016 from Duff & Phelps, a global valuation and corporate finance firm, placed his brand value at $92.4 million, behind just Shah Rukh Khan ($131.2 million).
