Virat Kohli, Rohit Sharma likely to lose 20-30% of brand endorsement fees in 2020: Study

Team India captain Virat Kohli and vice-captain Rohit Sharma have emerged as the face of several brands over the years but the coronavirus pandemic is likely to change that situation. Brands have shelled out massive amounts of money to sign celebrities as ambassadors. However, a recent study suggests that amidst the financial crisis triggered by the pandemic, endorsement fees could drop by a massive 20 to 30 percent. While the endorsement fees are likely to reduce, the report states that Indian Premier League (IPL) stars including the likes of Virat Kohli, Rohit Sharma and MS Dhoni still remain favourites as endorsers for the brands. 

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Virat Kohli, Rohit Sharma to lose 20-30% of brand endorsement fees due to COVID-19

According to the Indian Institute of Human Brands’ Celebrity Compensation Report, 64 percent of advertisers surveyed said that celebrity endorsement fees are likely to reduce in light of the coronavirus lockdown. The report suggests that 22 percent of advertisers want leading celebrities such as Team India captain Virat Kohli and Bollywood celebrities Akshay Kumar, Deepika Padukone, Ranveer Singh, Ranbir Kapoor and Alia Bhatt to take a massive 20-30 percent pay cut. The list of celebrities also includes former Indian captain MS Dhoni and Mumbai Indians captain Rohit Sharma. Only four percent of the brands that surveyed want endorsement fees to drop by more than 50 percent. The report further states that more than half of the brands in question still want a celebrity to endorse their brand, while a similar number of organisations are keen on cricketers as brand endorsers even if the IPL does not take place this year.

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Virat Kohli net worth

According to Forbes, the Virat Kohli net worth figure from the past year is estimated to be around ₹196 crore ($26 million). Moreover, his overall net worth is estimated to be around ₹900 crore ($119 million) according to multiple reports, while some reports claim Kohli is worth ₹1,700 crore (though unverified). A major part of his net worth comes from his own business investments and endorsements. The Virat Kohli net worth also comprises of his earnings from the Board of Control for Cricket in India (BCCI) as an active Indian cricket player, which is ₹7 crore ($925,730) per annum, while he also bags ₹17 crore ($2.24 million) per season from the Royal Challengers Bangalore in the IPL.

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Rohit Sharma net worth

The Mumbai Indians skipper rakes in most of his income through his Team India commitments and Mumbai Indians contract. As of 2019, the Rohit Sharma net worth stands at an estimated ₹124.5 crore, as reported by MSN. Sharma also earns ₹15 crore from his commitment with the Mumbai Indians, while he has an annual BCCI contract that sees him rake in ₹7 crore, since he is a part of the Grade A list alongside Jasprit Bumrah and Virat Kohli. 

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(Image Credits: iplt20.com)