Sachin Tendulkar parts ways with Musafir.com with a sweet deal

Sachin Tendulkar has retired from cricket for a long time now but the craze for the greatest player of all time has not been hampered even one bit. There have been emerging stars and there have been some newborn superstars but no one has been able to replace Sachin.

The same thing goes for his brand value as well. He is one of the most sought after brand ambassadors in the country and is one of the highest paid ambassadors as well. Recently Sachin ended his five-year-old association with Musafir.com a travel website. The reason for parting ways with the God of cricket was pretty straight forward; the web portal’s poor valuation.

The CEO of Musafir Giya Diwaan explained the matter. She said that the documentation of the thing is in progress. Emphasizing on the fact that the company had a cordial relationship with the cricketing legend like any other celebrity. Sachin also has some equity in the company and the CEO has not yet thought about it as there are no investors yet to look after his equity.

Diwaan was talking to Business Line when she said, “We had a cordial commercial relationship with Sachin Tendulkar, like any celebrity deal, for the past five years. The documentation is under process, and it is a cooling period between us and his company. He came in 2013 as a brand endorser and no longer features in our ads. We have so far not sold Tendulkar’s equity to any investor.”

Tendulkar, along with the money also has equity in the company. He also owns 7.5 percent in exchange for working on advertisements.

Sachin will receive INR 20 crores as he will no longer be the company’s ambassador. The batting maestro was paid 1 crore every year for the last five years and the deal had the clause that Sachin will receive 20 crores at the time of departure.