Mumbai: Cola giant PepsiCo has won bidding for the rights of title sponsor of the Indian Premier League (IPL) for the five seasons commencing in 2013.
Farooq Abdullah, the Chairman of the BCCI’s Marketing Committee, announced that the rights had been won by PepsiCo over the next five seasons with a bid of Rs.396.8 crore.
Dr Abdullah commented “the BCCI is very pleased to welcome PepsiCo as a central partner of the IPL. The value of the winning bid reflects the growth and success of the IPL.”
Soft drink giants Pepsi beated leading telecom communications provider Bharti Airtel to become the new title sponsors of the IPL. Airtel offered Rs 316 crores.
IPL Governing Council Chairman, Rajeev Shukla added “PepsiCo are one of the largest sponsors in world sport and we look forward to working with them over the next seasons. 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.”
PepsiCo’s bid is double the 200 crore paid by DLF in the first five seasons of the IPL.
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