India’s Historic Double Triumph at Chess Olympiad Sparks Sponsorship Scramble
India’s historic double triumph at the Chess Olympiad in Budapest has not only brought glory to the nation but has also sparked a fierce competition among sports talent firms looking to sign the young chess stars for lucrative sponsorship and endorsement deals.
After clinching both the men’s and women’s crowns at the prestigious event, Indian chess players have become hot commodities in the sports marketing industry. With only one of them currently having formal agency representation, top firms like IOS Sports and Baseline Ventures are eager to add these talented individuals to their roster.
The stellar performance of the Indian chess players, who secured three team gold medals and four individual golds at the Olympiad, has caught the attention of executives who believe that these players deserve serious sponsorships and valuation. Tuhin Mishra, co-founder of Baseline Ventures, emphasized the need for brands to support these players and expressed hope for a long-term partnership.
Despite the dominance of cricket in the Indian sports market, the Paris Olympics witnessed a surge in brands signing sponsorship deals for other sports, including chess. Companies like Radico Khaitan, Dream Sports, Amul, Bharat Petroleum Corp, and the Adani Group have shown interest in partnering with the rising stars of Indian chess.
An executive at a leading sports management agency highlighted the potential of the young chess champions, citing their talent, youth, and promising future in the sport. The focus now is on unlocking their true value and securing lucrative endorsement deals for them.
Prominent figures like Anand Mahindra, chairman of Mahindra Group, have also lauded the Indian chess team for their remarkable achievement, declaring that the crown truly belongs to India. As the chess players bask in their glory, the sports marketing industry is abuzz with excitement over the prospect of working with these talented individuals and taking their careers to new heights.