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Breaking News :  Pepsi to withdraw 5-year IPL sponsorship, sends notice to BCCI
Friday 09-October-2015, 15:11,
Pepsi to withdraw 5-year IPL sponsorship, sends notice to BCCI
The company is keen to walk out on
its five-year title contract, due to
expire in 2017, citing the issue of
IPL bringing “disrepute” to the
game
The Indian Premier League (IPL)
will have a new title sponsor in its
next edition as Pepsi has,
reportedly, sent a notice to BCCI
expressing its interest to
terminate the association with the
league.
The company is keen to walk out on
its five-year title contract, due to
expire in 2017, citing the issue of
IPL bringing “disrepute” to the
game. However, BCCI sources
claimed that Pepsi wants to end the
deal due to its dipping foreign
interests, say market reports.
It is being reported that BCCI is in
talks with all those interested in
bagging the rights and get it
transferred from Pepsi.
IPL chairman Rajeev Shukla has
said the Pepsi deal is “not a big
issue” and the board is in talks with
other sponsors as well to settle the
issue “amicably”, state medi
reports.
It is being said that Pepsi wants to
withdraw from the sponsorship
because of the 2013 spot-fixing
scandal that tarnished the IPL's
reputation. It had paid Rs 396 crore
(US $71.77 million) for the period
2013-2017.
The BCCI will take up the matter
during its working committee
meeting in Mumbai on October 18,
say market reports.
http://www.exchange4media.mobi/story.aspx?news_id=61958
ANIL G
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