NEW DELHI: MS Dhoni may or may not retain his captaincy, but his popularity seems to be on the wane at least in the corporate world, with five companies ending endorsement deals with the Indian cricket captain.
Only 22 advertisers used Dhoni in commercials during January-November, down from 27 a year earlier, shows data put together by research and media-tracking agency TAM for ET. The number of products or brands he endorses declined even more sharply to 28, from 43.
Some industry experts say the country's most successful and bankable sportsperson so far, with estimated earnings of more than Rs 70 crore a year from endorsements, may see his brand value dip up to 30% if he loses the Test captaincy.
"Any change in Dhoni's current position may lead to a dip in his endorsement brand value by 25-30%," says Shailendra Singh, joint MD of entertainment and talent management firm Percept Ltd. "There's always a premium brands pay when they sign up a captain," he says.
But Dhoni has many backers, including companies such as PepsiCo that recently renewed his endorsement contract. Arun Pandey, promoter of talent management firm Rhiti Sports that manages Dhoni's business deals, says the number of advertisers has gone down because contracts with some smaller advertisers were not renewed.
"Some brands could not afford Dhoni, while for others he became bigger than the brand themselves. So brands like Dainik Bhaskar and Cello fell out of the list," says Pandey, who is also a close confidante of the Indian captain.
He says many brands are willing to pay 'any price' to have Dhoni on board. "But we cannot partner with everyone as Dhoni's schedule is very tight."
A series of poor performance by team India in Tests — which included back-to-back 0-4 whitewash against England and Australia and the recent 1-2 loss at home to England, their first series win here in 28 years — has led to loud calls for Dhoni's sacking, with several former cricketers blaming the captain for the team's shameful show.
Latika Khaneja, founder and director of sports marketing firm Collage Sports Management, says Dhoni's valuation will take a hit if he does not come out of the current phase soon. The exact impact will depend on his on-field performance, she adds.
But many brands still find Dhoni the best bet. Snack foods and beverages company Pepsi-Co is learnt to have renewed its endorsement deal with the captain for Rs 12 crore a year. "We are proud of MSD, his achievements and his stature as a youth icon and have invested in a longterm partnership with him," a PepsiCo spokesperson says.
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