Sponsorship for Indian Athletes has vastly improved over the years and with the athletes scaling to International levels, it only gets better. One such athlete who worked her way up to these deals is Olympic and World Championship silver medalist PV Sindhu. She has just signed a jaw dropping Rs.50 crore sponsorship deal with Chinese sports brand Li Ning for a four year tenure.
Li-Ning is the Chinese leader in athletic apparel and footwear, rooted in the vision of its founder and champion gymnast Mr. Li Ning. Founded in 1990 the company’s simple goal was to provide Chinese athletes with a national brand to wear on the world of the Olympics. This modest intention as manifested itself into a global sports pioneer that resides at the forefront of 21st-century design and technology while still remaining grounded in its own heritage. The brand continues to support Chinese and other athletes’ world over.
“Sindhu’s deal is one of the biggest in world badminton. It is close to Rs 50 crore for sponsorship and equipment,” Mahender Kapoor, director, Sunlight Sports Pvt Ltd, the multi-national exclusive partner of Li-Ning in India, told PTI. She also stands seventh in the Forbes list of highest paid sportswoman.
This will be Li-Ning’s second stint with Sindhu, the first being in 2014-2015 for a sum of Rs.1.25 crore a year. In 2016, she was back with Yonex for a Rs 3.5 crore per year contract for a period of three years.
The record deal comes after compatriot Kidambi Srikanth was also signed on for Rs.35 crore over a period of four years by the Chinese company last month. The Chinese brand also signed on board men’s doubles pair of Manu Attri and B Sumeeth Reddy for Rs.4 crore each for two years and former Commonwealth Games champion Parupalli Kashyap for Rs.8 crore for two years.
Tapping into the potential of the Indian market, the Chinese sports brand had also signed a two-year deal with the Indian Olympic Association last year. As part of the deal, it will provide Indian athletes and officials with competition and training apparel, leisure-wear and footwear for the 2020 Tokyo Olympics.