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Today, many small talent management companies, which were big at a time, have shut shops. But there are professional agencies such as Cornerstone Sport and Entertainment, KWAN Entertainment and Marketing Solutions, Professional Management Group and World Sports Group, which are active in managing sports celebrities.
Firms like Rhiti Sports Management and Asset Management Ventures came into the picture after they signed on big cricketers such as Indian skipper Mahendra Singh Dhoni and Yuvraj Singh, respectively.
The trend today is that new cricketing stars are more inclined to partner with friends, or someone close to them, who they can trust with, even if it is not a very big or known agency.
“The talent management business essentially runs on trust. Most celebrities want to go with people who they trust as there is big money involved. Historically also, all managers were either relatives or friends. But things are different in sports as a majority of the sports-persons are not from big towns who may not have financial background and are very emotional. So they prefer to work with people they can trust on. That’s how you see Dhoni going with Rhiti Sports, following which, many youngsters also signed with the company,” says Indranil Das Blah, chief operating officer (COO) at KWAN Entertainment. KWAN has just signed Irfan Pathan, and is in talks with a few other cricketers.
Melroy D'souza, COO at Professional Management Group, which manages the business interests of sports personalities like Virander Sehwag, Manoj Tiwary and Abhinav Bindra, agrees. “It’s about who they are comfortable with. Money is very important, but they don't want hassles.”
However, D'Souza says there are only two cases where new companies are formed (Rhiti and Asset) to manage celebrities, while most other cricketers and sportspersons are with old agencies.
There might be two different thoughts on if small agencies are better or big, but experts believe the industry standard of 10-15 per cent commission is across agency, and it is not about just money.
“We see so many new agencies because many professionals start a new one betting on just one relationship. Such sports companies often tend to put all the eggs in one basket. In films, it can work, but not in sports. Sports is performance-driven and if you don't have a business plan, you will end up with nothing,” KWAN’s Blah said. "Soon, most of these celebrities will realise that they need professional approach. It’s inevitable. The big agencies will remain in business. This is just a temporary phase."
However, a senior executive of a small agency, who has signed up a big cricketer, said on condition of anonymity: “These big groups have good contacts with advertisers, but they don't understand the needs of a sportsperson. They lack the personal touch and are very commercial.”
While the verdict is divided on whether a small agency, started by a friend, or a professional established agency is better, the fact is that the business celebrity management is picking up and has a lot of scope in coming years.
