New Delhi: With the Indian cricket team suffering humiliating losses to Australia, some advertisers are refraining from promoting their brands through cricketers in the immediate future fearing negative sentiments but media planners and players' managers termed it as overreaction.

"When the sentiment is not positive, it is difficult to ride on cricket in advertising. We are waiting for one good performance that will drive away the negativity, before we show cricket related ads," Canon India's Senior Vice-President Alok Bharadwaj said.

However, recently Canon had renewed its deal with Sachin Tendulkar for the next two years, Bharadwaj said.

In the ongoing four match test series, India is trailing 0-3 to Australia after heavy defeats. Last year England had whitewashed India 4-0.

According to Anirban Das Blah, Managing Director, Kwan, a celebrity management agency "cricketers as brand ambassadors are dead and buried as there is too much volatility in the game today".

"Most of the cricketers are over priced. Brands that are investing huge amount of money to rope in cricketers are letting emotions come in the way of rational business decisions," he said.

Citing industry estimates, Blah said in 2003, cricketers commanded over 70 percent brand endorsement market, but at present it is only 10 percent and will only go down in future.

"Four years back, we had made a conscious decision not to manage any cricketer," he added.

Presenting a counter view, Rhiti Sports Management Promoter Arun Pandey, who manages MS Dhoni's account said: "One or two bad series do not have any impact on a player's endorsement deals or value. People tend to forget very fast what these cricketers have done for the country in the past."

Echoing similar sentiments, Navin Khemka, Managing Partner Zenith Optimedia, a media buying firm said: "Brands might delay but they cannot change strategy in case team is under performing. Sachin for example is the god. His popularity will unlikely dip despite the team's (poor performance)."

Stressing that the current negative sentiment is short lived, Khemka said by February all will be well and by April when IPL where country is not important, will be played and cricketers will be back in demand.