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Breaking News : PepsiCo gets 4 -year deal to become sponsor for ODI and test matches played in india
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Just four months after exiting the Indian Premier League (IPL)as title sponsor, PepsiCo is back on the cricket pitch by bagging a four-year contract to become a ground sponsor for all one-day international and test matches to be played in India.
. . PepsiCo signed a deal to this effect with the Board of Control for Cricket in India (BCCI) earlier this week, said officials who were directly aware of the development.
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. The maker of Pepsi cola and Lay's snacks plans to display its sports drink brand Gatorade prominently on the ground, company officials said.
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A formal announcement is expected over the next few days. Neither PepsiCo nor BCCI divulged financial details of the deal. "We continue to remain committed to sports in India," a PepsiCo spokesperson told ET. "Recently, we were the exclusive beverage sponsor for the All-Star cricket series, we associated with soccer through the ISL's soccer league and were also the beverage sponsor for the Champions Tennis League started by Vijay Amritraj. Having said that, our association with cricket has become synonymous over the last few years," the spokesperson said.
. . PepsiCo had in October last year terminated its five-year contract as title sponsor for the IPL two years ahead of schedule on ethical concerns after a series of match fixing and betting scandals hit the cash-rich Twenty20 tournament, which ultimately led to suspension of two popular teams, Chennai Super Kings and Rajasthan Royals, for two years.
. . Chinese mobile phone maker Vivo has replaced PepsiCo as IPL title sponsor for two years. An official directly aware of the development said, "PepsiCo is keen on cricket and it has picked up one of the sponsorship slots for cricket to be played in India. The firm disassociated itself with the IPL on ethics ground but it was clear it would return to cricket on other platforms."
. . Basabdatta Chowdhury, chief operating officer of media buying firm Starcom Mediavest, said: "Cricket is a natural pull factor; specially for marketers with a youth male audience the sport is an obvious choice, given the following it has in the country."
. . PepsiCo had committed 396.8 crore as fee for title sponsorship of IPL for the period 2013-2017.
. . Mid last year, mobile payments and ecommerce company Paytm had taken BCCI's title sponsorship rights for 203.28 crore, for a four-year period till 2019 for all domestic and international cricket matches.
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