Olympic News: Olympic gold prompts a 1000 per cent increase in Neeraj Chopra’s endorsement earnings

Olympic News
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Olympic News: Olympic gold medalist Neeraj Chopra has become a celebrity in a country devoid of sporting heroes. Chopra’s life hasn’t been the same since the momentous night of August 7, which has now been designated as India’s National Javelin Throw Day. His popularity has shattered all kinds of records, and if he hasn’t already, he is on his way to being the new poster boy of Indian sports.

Naturally, his accomplishment is bringing him financial gain. According to a source, his brand endorsement fees have reportedly climbed by 1000 per cent, placing him second only to Virat Kohli, the leader of the men’s cricket team.

In terms of endorsement fees, Neeraj outperforms Rohit Sharma and KL Rahul: Reports

Prior to his gold medal-winning throw of 87.58 metres in Tokyo, Neeraj Chopra was claimed to be earning around 15-25 lakhs per sponsorship on an annual basis. He is currently in talks to sign new partnerships worth ten times that amount. A ten-fold increase in endorsement value, according to brand experts, is unprecedented by any stretch of the imagination, especially following a single event like the javelin throw.

To put things in context, captain Kohli is now the only sportsperson in the country who charges anywhere between INR 1 and 5 crores for his services. Neeraj may now be classified as someone of the status of Kohli, who just became the first Asian to have more than 150 million Instagram followers, thanks to an increase in his sponsorship income. Furthermore, he has already eclipsed other Indian cricketers such as Rohit Sharma and KL Rahul, who are said to earn between INR 50 lakhs and INR 1 million each year.

Nearly 80 brands have made requests

According to a report in the Economic Times, JSW Sports, the company that manages Neeraj, is in talks with at least five or six luxury vehicle and apparel businesses, with an agreement expected in the coming weeks. They plan to strike a few digital-only deals for Neeraj as well. Deals with existing brands like Nike, Gatorade, ExxonMobil, and MuscleBlaze sports supplements are expected to be amended at greater costs now that he is an Olympic winner.

“We get requests from close to 80 brands, and Neeraj has a limited amount of free days between training camps in India and abroad over the next 12-14 months, so we have to be judicious about signing on brands,” said Mustafa Ghouse, CEO of JSW Sports.

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