Sania’s one crore affair with Kamal
G. Kamal Vardhana Rao is the Vice-Chairman and Managing Director of Sports Authority of Andhra Pradesh (SAAP).Over the last 5 years SAAP has spent nearly a crore of rupees in directly supporting Sania Mirza. Today, Sania Mirza is World No. 34 vindicating SAAP’s support her. What does SAAP, a Government of Andhra Pradesh outfit get in return ? “Acknowledgement of its support by displaying SAAP’s logo on its attire”, say Kamal Vardhana Rao.
Celebrity management firm Globosport which manages Sania’s off-court career has restricted Sania’s endorsements to six, each fetching 1.5 crore rupees (per annum presumably) according to sources. Clearly, Sania no longer needs monetary support from SAAP.
Talent spotting and supporting—which is what SAAP has done to Sania amongst others—is not far from Venture Capital. Venture Capitalists spot budding entrepreneurs with visionary ideas and a burning desire to succeed. They take the risk and put their money on the idea, put their money on the entrepreneur and wait patiently sinking more money for the cause if need be. VCs do the same with many promising entrepreneurs, diversifying their risk. Eventually, one of them strikes it big and the VC makes enough money to cover for those who did not.
For every Sania Mirza that a SAAP creates there are others who did not make it so big. It is a risk that SAAP takes and it is its job to promote talent. But when Sania does strike it big should the Government department be satisfied with an acknowledgement.
Not, in my opinion. The VC does not just seek an acknowledgement. He needs a reward, a reward for risk. SAAP need not profiteer, but they can build up their coffers to support the next set of sportspersons who may do India proud. SAAP should have ideally, negotiated a percentage of her earnings; It can do it even now, if the corporate managers of Sania are magnanimous enough.
SAAP can even monetise the acknowledgement on Sania’s attire and sell it to the highest bidder, well, atleast negotiate a reasonable price for it.
G. Kamal Vardhana Rao, please wake up, it is not enough to back the right horse; One must also collect the moolah !
http://www.hindu.com/2005/09/28/stories/2005092809142100.htm
2 comments:
Hey! That was thought provoking! MB family on the blgosphere as well eh?
Sounds kewl!!
We're blog cousins also now!
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