Pepsi’s withdrawal ‘no big issue’: IPL chairman Rajiv Shukla | DTH Forum with Fastest DTH Updates

Breaking FIRST : Pepsi’s withdrawal ‘no big issue’: IPL chairman Rajiv Shukla
MUMBAI: PepsiCo’ notice to BCCI to
withdraw its sponsorship from the
Indian Premier League's (IPL) next leg
has come as yet another setback to
India’s most popular cricketing event.
However, a source close to the
development informs, “Pepsi’s exit
will have no negative impact on the
brand value of the tournament and
the board is confident of having a new
sponsor way before the start of the
next season.”
IPL chairman Rajiv Shukla was quoted
by PTI as saying, “We are in talks
with other sponsors as well, so the
title deal with Pepsi is not that big an
issue. They have certain points and
we are going to settle them amicably
in the next meeting, They have been
very good partners all this while and
we do not want to disturb our
relationship with them. Whatever is
going to happen is going to happen in
a very smooth manner.”
Shukla further added, “Pepsi wants to
end the deal due to its drenching
foreign interests. They have shown a
willingness to move out of the deal
from this season because of their own
interests and not because of disrepute
and stuff. So they may not continue
as the main sponsor.”
The beverage giant wants to walk out
of the five-year title contract, which
due to expire in 2017, because of the
cash-rich league’s incurring
PepsiCo had paid Rs 396 crore ($71.77
million) from the 2013 - 2017 period.
The BCCI will take up the matter
during its working committee meeting
in Mumbai on 18 October.
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