Mirabai's Endorsement Valuation
September 4, 2021 by Vandana S · 3 min read
Mirabai Chanu, Indian’s pride, won the first medal for India in the Olympics on Day 1 under the women’s category of weightlifting. Mirabai, from Manipur, has won the hearts of the nation and the endorsements criteria. Before the Olympic medal win, she has other wins in her kitty like the world championship, commonwealth games.
How it started?
Born in a humble family background in Imphal. Her skills in weightlifting were spotted at the mere age of 12 when she could lift bundles of Firewood which her elder brother found difficult to lift. Her training started in Manipur and the road to training was a tough, yet friendly one. She hitchhiked with truck drivers and carrying sand. Post her win, as a sign of gratitude she invited the truck drivers for lunch.
On account of her contributions in sports, she received the Padma Shri and Major Dhyan Chand Khel Ratna in 2018.
Currently, she is endorsing Adidas and few other small digital brands. After this win, her value and endorsement fee has increased significantly.
As soon as her win was declared she mentioned her cravings for Pizza and Dominos was the first to congratulate her with free pizzas for life. Dominos delivered pizza for her family in Imphal to celebrate her win.
Lots of short-term endorsements are streaming her way and long-term endorsements are not that far behind. The hard work and dedication put by her have indeed reaped her rewards. Her current value post the win is around 1.25 crores per endorsement.
Reality of Athletes
The color of the medal is secondary when it comes to the sports sector. Cricket is placed in the highest rank for endorsements, followed by tennis and badminton which has a stark difference in the charges. Weightlifting does not have a lot of scope in the face value of the player. People know the name of Mirabai Chanu, but not her face. Abhinav Bindra won the gold medal for India in 2008, but could not sustain her image in endorsement for long as shooting is not given preference in endorsements. Karnam Malleswari won the first-ever medal in Olympics in the female category for weightlifting. She won the bronze medal, but not many remember her or know her.
Not many know the struggle and work of Mirabai. Her career has just begun and if marketed well can end up cashing in or bargaining charges for endorsement and later on cash in on biopic rights.
Although not many athletes who win Olympic medals get a lot of endorsements or fame after the win fizzles out. They need to keep themselves in the public’s eye view to gain popularity, support, and endorsements.
Rewards post the win
The cash rewards won by her post the Olympic win shows the enthusiasm and zeal with which corporates and governments want to encourage sports in the nation. 1 crore was offered by Byju’s, 50 lakhs by Government of India, 1 crore by Government of Manipur, 2 crores by Ministry of Railways in promotion of Northeast Frontier railways, 50 lakhs by BCCI, and 40 lakh by Indian Olympic Association.
Do you think students and athletes are motivated by the rewards and training given by the nation?