Mumbai, Nov 22 (): Soft Drinks company Pepsi is now the new title promoter of the Indian Premier League, IPL. The giant company won the title rights bid for 5 years paying a huge amount of Rs 396 crore.
Pepsi overtook Airtel, which in the bid offered Rs 316 crore for title sponsorship IPL T20 tournament. Rajeev Shukla, Chairman of IPL said the contract for title sponsorship is for 5 years that ends in 2017.
In August, DLF ended its 5 year contract with IPL as title sponsor and BCCI floated tenders last month for the same. DLF has paid Rs 200 crore for the period 2008-12.
Samir Kale, the founder and president of SportzPR, the sports communications division of CMCG India said Pepsi has inked a great deal. According to Kale, one of the reasons that Pepsi has bet big on the IPL is that April and May are typically the best months for soft drink sales.
The deal with the giant company Pepsi, however, says how strong IPL has become and how the game continues to draw big sponsors even as the companies tighten their belts.
Executive Director in Marketing of Pepsico Beverages, Deepika Warrier said she was extremely happy about Pepsi confirming its commitment to cricket.
The title sponsorship rights include number of branding and many other marketing benefits to be received by the title sponsor at every IPL match during the season as specifically outlined in the Invitation to Tender.
Meanwhile, the auction for the players for the 6th edition of IPL will be held in January next year either in Kolkata or Chennai. Sources in the IPL said the auction would take place either on January 12 in Chennai or eight days later in Kolkata. The auction dates were decided by governing council of IPL, led by Rajeev Shukla, which met on Wednesday in Mumbai.