The Rhiti Sports Management-Mahendra Singh Dhoni deal continues to get murkier with every passing day. The Times of India has a report that questions how Arun Pandey’s Rhiti Sports managed Mahendra Singh Dhoni the whopping Rs 210 crore that the Indian skipper was promised when he signed on in 2010.
It was a deal which toppled the previous record of Rs 180 crore held by none other than Sachin Tendukar and sent the Indian cricket stratosphere into a tizzy. “We are delighted to sign a three-year contract with Dhoni,” Sangeet Shirodkar, RSM’s marketing president had then said. “Henceforth, we’ll be looking after Dhoni’s endorsements, brand associations, corporate profile, patents and digital rights, images, visibility on social networking sites and merchandise through a joint venture.”
That’s a lot to manage and was it worth it? In 2010-11, when the deal was signed, Rhiti had a total income of only Rs 39.72 crore. The year before that, 2009-10, it’s income was just Rs 6.77 crore. By 2011-12, the company has registered a total income of Rs 63.54 crore. Thus in the three years since the deal was signed Rhiti’s total income (not profits) is just about Rs 110 crore.
“Reports quoting Pandey and those close to him have hinted that the deal with Rhiti Sports was that it would get around 10 percent commission on all deal swung for Dhoni. This appears to be contrary to the announced claim of an agreement with a minimum guaranteed payment.”
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