Pepsi bags IPL title sponsorship rights
"So far our records 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 said, adding that the fact that the bid by Pepsi was double that of DLF shows the grand success of IPL.
"PepsiCo are one of the largest sponsors in world sport and we look forward to working with them over the next seasons," he added.
Deepika Warrier, the Executive Director Marketing of Pepsico Beverages, said she was happy that the company has reaffirmed its commitment to cricket.
"We have been associated with cricket for the last 20 years. The IPL is a tremendous product. It is a brand which rivals any other sporting brand across the world," she said.
"I think it's an absolutely game changing format. The kind of eyeballs, interest and viewership that the IPL gets in India and across the world is of great interest to us.
"We are very happy with the kind of investment and are confident of getting returns from our investment we are making in the IPL and in cricket in India over the next five years.
"The deal is the reaffirmation of Pepsi foods in India as a market and it's also our absolute commitment to cricket. Together with BCCI, we will take cricket to greater heights in India. It's a leadership stance from Brand Pepsi," she added.
The title sponsor rights include a number of branding and other marketing benefits to be received by the title sponsor
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