Though the company has not disclosed the value, sources in the sports endorsement business put the deal at Rs 200-250 crore for a period of four years. This far dwarfs the endorsements deals signed by the top Indian cricketers
BestMediaInfo Bureau | Delhi | December 3, 2014
In what is easily the biggest sports endorsement deal struck by an Indian company, Hero MotoCorp (HMCL), the world’s largest manufacturer of two-wheelers, yesterday announced the signing of golf champion Tiger Woods as its Global Corporate Partner. Though the company has not disclosed the deal value, sources in the sports endorsement business put the deal at Rs 200-250 crore for a period of four years. This far dwarfs the endorsements deals signed by the top Indian cricketers.
Woods joins the New Delhi headquartered Hero – a keen promoter of various disciplines of sports for over two decades now – at a time when the company is aggressively expanding its global footprint.
Hero MotoCorp Vice-Chairman, CEO & MD Pawan Munjal, addressing a press conference in Orlando, USA, said, “Having spread our footprints across Asia, South and Central America and Africa over the past two years, we are now poised to make a quantum jump in our global foray, aiming to be in as many as 50 countries by 2020. As we embark on this exciting journey, we are pleased to have Tiger Woods as our partner in spreading the message of Hero MotoCorp. Tiger is not just a golfing champion and an icon for millions around the world; he is indeed a phenomenon – a symbol of humility in victory and grace in adversity. An achiever par excellence, Tiger’s appeal and charisma spans across continents cutting through barriers of geography, age, language and nationalities. This partnership between Tiger and Hero MotoCorp, therefore, is truly reflective of Brand Hero’s global journey. We have lined up exciting campaigns to build on the core values of Hero in our global markets and Tiger is going to play an integral role in these initiatives.”
Woods commented, “This association with Hero MotoCorp is exciting and it allows me to be involved with the world of two-wheelers and the vision of Pawan and Hero MotoCorp. We have a shared vision and I am proud to be working with the entire Hero family. For me, any collaboration and partnership has to be something that’s important to me. I greatly appreciate Hero sponsoring the Hero World Challenge that benefits my foundation, and my new role will greatly expand our worldwide relationship.”
Hero MotoCorp has also become a partner of the Tiger Woods Foundation to be the Title Sponsor of the Hero World Challenge. Hero MotoCorp currently sells its range of motorbikes and scooters in 20 countries spread across Asia, Africa and South and Central America. Hero is set to enter Europe in 2015 and the USA and Brazil by 2016. By 2020, Hero aims to be present in 50 countries with an annual combined sales volume of 12 million units. By that year, Hero also aims to surpass the cumulative sales of 100 million two-wheelers.
Synonymous with some of the marquee sports partnerships in India as well as globally, Hero MotoCorp has had a steadfast commitment towards promoting various disciplines of sports including golf, cricket and hockey. Most recently, the company has also become the title sponsor of the India Super League – the first-of-its-kind franchise-based football league in the country. Hero is also the Title Sponsor of the Hero Hockey India League.
Hero MotoCorp has been associated with sports for over two decades now. A keen golfer himself, Mr. Munjal is the Past Chairman of the Asian PGA Tour Board of Directors and the Past President of Professional Golfers Association of India (PGAI). The company also hosts the annual Hero Indian Open for both men and women.
Hero is also one of the main partners of FIH – the apex body of global hockey, and was the title sponsor of the men’s hockey World Cup held in New Delhi in 2010.
Hero MotoCorp was also a Partner of the Commonwealth Games Delhi 2010 and Presenting Partner of the Queen’s Baton Relay (QBR).
Hero has also had a long association with cricket for more than two decades in various capacities – as one of the Global Partners of the International Cricket Council (ICC) and as team sponsors of Delhi Daredevils and later of Mumbai Indians teams in the Indian Premier League (IPL).