Who can forget about India’s biggest corporate scam – the Satyam scandal – which shattered the peace and tranquility of the company’s stakeholders including its shareholders, employees and clients amongst others? It was nothing less than apathy all over.
Fortunately, the Satyam scam turned out to be a one-off case from the Indian shores; in what could have been few more instances of fraud-hit scams from the organizations that were hit hard by the global recession and, consequently, trying to forge books of accounts to show up as nothing unusual in the eyes of vigilant shareholders.
What happened post Satyam scandal is no stranger to our readers. The brand Satyam has embarked on a new trajectory under the leadership of Tech Mahindra, and the man who threw the company into a deep crisis, by way of inflating profits and fudging the company’s account books for many years, is now in jail – Ramalinga Raju.
Interestingly, it was none other than the tainted Mr Raju who had signed a deal with the FIFA in 2007, reportedly worth Rs.90 crore, as a sponsor and official IT provider for the 2010 and 2014 editions of the tournament. However, post scandal, the FIFA had to be convinced that the company under the new leadership was utmost sincere and still had capabilities to deliver for the popular sporting event in the form of Football World Cup.
Now, riding on the back of successful coverage of the FIFA World Cup event, the newfound momentum will open up markets in Latin America and Africa for Mahindra Satyam.
As a part of the FIFA deal, the company also got opportunity to leverage its brand -Mahindra Satyam – in the form of in-stadia advertisements which got broadcasted across the globe for all the 64 matches. The company has provided a perfect technology backbone for the grand sporting event.
According to Sridhar Maturi, Mahindra Satyam’s global head (sports marketing and communications): “Formula One and basketball are the other potential interests. We have already opened up discussions with the National Basketball Association (NBA) and a couple of F1 properties in the US.”
The company has recently pitched with the ICC for an accreditation for the Cricket World Cup. The company is also eyeing world sporting events such as the 2010 Commonwealth Games, 2016 Olympics and the Asian Games for its sports vertical incorporated three years back. Mahindra Satyam has bagged a deal for the Singapore Youth Olympics
So, hasn’t Mr Raju left a new vision for Satyam by signing the FIFA deal before his infamous confession?