Sachin Tendulkar parts ways with Musafir, takes INR 20 crore home

New Delhi: Batting great Sachin Tendulkar has ended association with travel portal Musafir.com after a period of five years.

According to reports, the legend was being paid INR 1 crore every year for the past five years and was assured a minimum of INR 20 crore at the time of exit.

It's reported that the reason for an abrupt end to the association was the portal's rather poor valuation.

Confirming the new development, Musafir CEO Giya Diwaan said that " the documentation is under process, and it is a cooling period."

“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," Diwaan was quoted as saying by Business Line.

Tendulkar has been an investor in the company, and opted for a sweat equity of 7.5 per cent in exchange for appearing in the firm’s ads.

In the Musafir ads, Tendulkar was seen as a mysterious photographer, sporting a moustache and a turban, urging people to pose with their favourite travel destination.

Tendulkar, despite having retired in 2013, is still one of the most valued celebrity brands in the country.