Paris Olympics 2024: Vinesh Phogat’s brand value skyrockets, wrestler now demands substantial fee for endorsements

Vinesh Phogat (Pic: WFI)

Indian wrestling sensation Vinesh Phogat faced an emotional and challenging turn of events at the Paris Olympics 2024. Despite making it to the final of the women's 50kg freestyle wrestling event, Phogat did not receive a medal.

Her disqualification from the final, due to a failed weigh-in by a mere 100 grams, left the entire nation heartbroken and disappointed. This narrow margin of error led to a wave of dismay, especially as it denied her the opportunity to claim a medal that seemed within reach.

Phogat's quest for recognition was not over, as she sought to overturn the disqualification decision by appealing to the Court of Arbitration for Sport (CAS).

Despite her efforts and the hope that she might be awarded a silver medal retrospectively, the CAS upheld the disqualification, leaving Phogat without an official medal. This turn of events was particularly disheartening given her significant achievement in reaching the final stage of the competition.

Nevertheless, Phogat's status as a prominent figure in Indian sports remains intact. While the Paris Games presented a dramatic and bitter chapter in her career, it has not diminished her stature back home.

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The ordeal has, in fact, highlighted her resilience and competitive spirit, further cementing her status as a celebrated athlete in India.

In terms of her market value, Phogat has seen a remarkable surge. Her performance at the Olympics, despite not resulting in a medal, has significantly increased her appeal as a brand ambassador.

According to a report by the Economic Times, Phogat's endorsement fees have experienced a substantial boost. Before the 2024 Olympics, her fee for an endorsement deal was approximately INR 25 lakh. Following the Games, her fees have escalated to between INR 75 lakh and 1 crore per brand, reflecting her enhanced brand value and market demand.

In parallel, other Indian athletes who competed at the Paris Games have also seen significant developments in their careers. Neeraj Chopra, who won a silver medal, and Manu Bhaker, who secured two bronze medals, have both experienced a rise in their brand value.

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Chopra, despite not replicating his gold medal performance from the previous Olympics, remains a significant figure in Indian sports. His silver medal in Paris has led to a notable increase in his brand value, which has risen by 30-40% to reach approximately USD 40 million or INR 330 crore. This substantial rise underscores Chopra's continued prominence and influence both in sports and in commercial endorsements.

Similarly, Bhaker's achievements at the Paris Olympics 2024 have also propelled her into the spotlight. Bhaker's impressive performance earned her two bronze medals, and her success has translated into a considerable increase in her brand value. She recently secured an endorsement deal with ThumbsUp valued at INR 1.5 crore. Before the Olympics, Bhaker's endorsement fees were around INR 25 lakh per deal, but this figure has now risen sixfold due to her successful Olympic campaign.

While the Paris Olympics 2024 presented challenges and missed opportunities for some athletes, it also showcased their enduring appeal and potential. Phogat's experience, although marked by a disqualification, highlights her significant impact on the sport and her growing market presence. Chopra and Bhaker's successes further demonstrate the lasting influence of Olympic achievements on athletes' careers and brand value.