D. Gukesh: Can he be the new poster boy in endorsement sector?

D. Gukesh, the toast of India at the moment after becoming the youngest world champion in chess, is set to be the next big thing in the endorsement sector for those looking beyond the cricket arena. At 18 years, the Chennai youngster has become the new poster boy of the board game and is expected to rule the game for years a la Viswanathan Anand.   

‘’I don’t play chess for money,’’ Gukesh said on his homecoming when asked about the hefty prize purse of Rs 11.45 crores ($ 1.35 million) he made on beating erstwhile world champion Ding Liren in Singapore. There will be, however, a substantial tax component on it while the Tamil Nadu government has announced a cash incentive of Rs 5 crores for the achievement.

The dynamics of an individual sport like chess means the players have to re-invest a chunk of their sponsorship earnings for travel, maintenance of support system and logistics – and this is where the world champion will find life a lot easier.

 The last time a chess player boasted of any endorsement was the inimitable Anand, who endorsed an array of brands such as Parle Milk Shakti, Fincare Small Finance Bank, Vodafone, Crocin among others but there are no chess players handling any contracts now. Gukesh was sponsored by the Westbridge Anand Chess Academy (WACA) till the world title game but his brand managers now feel that the portfolio is going to increase soon.

Neerav Tomar, Managing Director of talent management agency IOS Sports and Entertainment, expects him to attract brand deals in the range of upto Rs 60 lakh. Speaking to Money Control, Tomar said: ‘’It’s a great leg up for a sport when you have a world champion. His win puts India on the global map. Chess is a global sport, so this is a huge achievement. Brands will first capitalise on moment marketing because the player is trending. The sport is trending.

‘’For instance, when Indian players won at Paralympics in Paris in 2024 it was all about moment marketing but no endorsements happened. But for Gukesh, I think, he would get more than moment marketing or the initial digital campaigns. Long-term endorsements may be a couple, but it will depend on how his team manages him,’’ Tomar said. Incidentally, the Delhi-headquartered company also manages former India hockey captain Manpreet Singh and boxing champions such as Mary Kom, Lovlina Borgohain among others.

 While insiders of the market are understandably upbeat, a key figure behind hosting the Tata Steel Rapid & Blitz Chess in Kolkata – where Gukesh had been a regular – advised on maintaining a balance between endorsements and development as a player. Speaking to National Herald, Jeet Banerjee, managing director of Game Plan said: ‘’Gukesh couldn’t make it to our event this year as he was busy preparing for the World Championship, but he had been a part of the Tata Steel event for past three years. There is no doubt that the endorsement sector may make a beeline for them as he has the potential to be a youth icon.

 ‘’However, as Gukesh himself admits, his target should now be to become the best player in the world by proving himself in the Rapid and Blitz formats. His team should aim to strike a balance between his playing schedule and commercial commitments,’’ Banerjee observed.

Chandramouli, Chief Executive Officer (CEO) of TRA Research, a consumer analytics and brand insights company said: ‘’For Gukesh, certainly his win will open up the endorsement market. If Gukesh endorses, I suggest you buy as he will only endorse things that will matter.’’