Sportswear brand Puma is set to sign up Indian cricket captain Virat Kohli in a multi-year, multi-crore deal.
The partnership is believed to be the biggest ever endorsement deal for any sportsperson in India. The value of the deal could be nearly 50 per cent higher than the deal that Adidas had signed with Kohli. The Adidas deal for Kohli, which ended last year, was reported to be worth Rs. 30 crore ($4.41 million) for three years.
Puma India has not yet made any announcement about a deal. A formal announcement for the endorsement deal could be expected next week.
InsideSport reached out to the company, which said “Puma declines to comment on market speculation” in a formal response.
The Indian cricket captain also has his own line of clothing, called Wrogn. To differentiate it from Wrogn, the deal with the German brand could have Kohli endorse the performance clothing from Puma.
Kohli is the hottest sportsperson in the endorsement market among all Indian sportspersons. He has 16 brands in his portfolio, including those in which he also owns a stake.
Swashbuckling batsman Yuvraj Singh was the brand ambassador for Puma till 2016. Singh was signed up as a brand ambassador in 2011 and was reportedly being paid Rs. 4 crore (about $680,000) per year for the deal. The deal reportedly expired at the end of 2016 and Yuvraj was not seen sporting the brand on his bat during the England ODI series.
Puma’s 2015 revenues for the financial year ending December was at Rs 878 crore ($129 million). Nike reported revenues of Rs 804 crore ($118 million) while Adidas revenues were at Rs 805 crore ($118 million).