India skipper Virat Kohli is in all likelihood will not renew his endorsement contract with the scam-hit Punjab National Bank, but the star cricketer’s agency confirmed that it wouldn’t be terminated before the term ends later this year. Recently, PNB’s reputation got hit by a fraud of Rs 12,600-crore.
“There is no dialogue to extend the contract so as of now, no, we are not in talks to extend the contract,” Bunty Sajdeh, the CEO of Cornerstone Sport & Entertainment, said according to Economic Times.
“It is our understanding that there is no conclusive or even enough reason to blame PNB as a bank on the whole for the unfortunate turn of events. In any case, Virat’s contract with the bank concludes later this year. So, as things stand, we are not disassociating ourselves,” he added.
Punjab National Bank had earlier claimed that some of its officials in the company of renowned jewellers Nirav Modi and Mehul Choksi were involved in this massive scam.
The bank had also released a statement, denying the media reports that Virat would stop the endorsement.
“The same is totally false and incorrect. Virat Kohli is our brand ambassador,” PNB had said in a media release. At that point in time, the Indian captain had stated that PNB was “mera apna bank” (my own bank), adding that he had opened an account with the bank when he was 16.
It is worth mentioning here that Virat has ended his six-year endorsement contract with cola maker PepsiCo last year since he only wanted to endorse products he would consume personally. The 29-year-old Kohli is currently the brand ambassador of 17 brands, including Gionee phones, Puma sportswear, Audi luxury cars, MRF Tyres, Tissot watches, oral care brand Colgate and Boost health drinks among others.