Pepsi bags IPL title sponsorship for Rs 398.6 crore
“The BCCI is very pleased to welcome PepsiCo as a central partner of the IPL,” said Farooq Abdullah, chairman of the BCCI Marketing Committee. “The value of the winning bid reflects the growth and success of the IPL.”
Apart from PepsiCo, Chennai-based telecom major Aircel had also bid for the sponsorship rights but its bid of R316 crore eventually lost out.
“PepsiCo are one of the largest sponsors in world sport and we look forward to working with them over the next seasons,” said Rajeev Shukla, chairman - IPL Governing Council. “I would also like to take this opportunity to thank DLF for its confidence in the IPL to become the league’s first title sponsor in 2008.”
“So far, our record of selling various properties of IPL has been very good. We have doubled, tripled or quadrupled the amount while selling some of the properties,” Shukla told reporters after the meeting of the IPL governing council in New Delhi.
Delhi-based real estate major DLF backed out of an extension because of a hike in sponsorship rates. The tournament itself has been plagued with lower viewer interest in the last few years. As per a Brand Finance report, the brand
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