ANDY Murray has struck a new management deal which will see him capitalise on his growing star power by breaking into the highly lucrative Asian market.

The Scots tennis star, who catapulted to number two in the world rankings following his victory in the Miami Masters tournament on Sunday, has turned to Indian doubles player and businessman Mahesh Bhupathi to help him raise his profile in the important Asian and Far East markets.

The deal will see the 25-year-old become the first client of Globosport, a new venture set up by Mr Bhapathi to help sports stars increase their inter-national reputation.

It has been negotiated by XIX Entertainment, the agency founded by Pop Idol creator and former Spice Girls manager, Simon Fuller, which has handled the Scot's business affairs since 2007.

Murray will also team up with Italian Ugo Colombini, a former player and highly experienced sports agent who has worked closely with fellow tennis star Juan Martin del Potro.

Mr Bhupathi's company will provide expertise in the expanding Asian markets – his business has built up a strong reputation in sports management, television and film production – while Mr Colombini will bring more tennis specialist expertise to Murray's management team.

In a statement, Murray said: "I believe a mix of Simon's experience and Mahesh's understanding of the sport will create the perfect team for my off-court interests and will allow me to continue to dedicate myself and focus on my goals on the court."

The management shake-up comes at a time when the Scot's earning potential has hit a new high.

His fortune was estimated at £24 million in last year's Rich List but is likely to have surged following his first Grand Slam triumph in the US Open last September and his latest promotion to the number two tennis player in the world, ahead of Roger Federer and Rafael Nadal.

In February, Murray splashed out £2m to acquire the luxury Cromlix House Hotel, near his hometown of Dunblane, Stirlingshire.

The refurbished hotel is scheduled to reopen next spring ahead of the 2014 Ryder Cup, which is being staged a short drive away at Gleneagles.

He already has a £15m five-year deal with Adidas, as well as lucrative contracts with the Royal Bank of Scotland, Head racquets and Jaguar and banked a seven-figure deal to be an "ambassador" for watch-makers Rado.

Sports finance experts have already tipped his earnings to surpass the £100m mark off the back of the US Open victory alone, but a foothold in the Asia – the world's biggest sports market – could see that inflate even further.

It is already a must-have on the summer tour schedule of major European football clubs and a vital source of income. Manchester United recently announced a three-and-a-half year sponsorship deal with a tyre manfacturer in Indonesia, where the club has 54 million fans, while Celtic saw its Japanese fan base soar to some nine million when it recruited midfielder Shunsuke Nakamura and continues to boast a Celtic supporters' club in Tokyo.