Pepsi bags IPL title sponsorship rights
22 Nov 2012 8:32 AM IST
Soft drink giants Pepsi on Wednesday became the new title sponsors of the cash-rich Indian Premier League after it won the bid for title rights for five years by paying a whopping Rs 396 crores. Pepsi pipped Aircel, which had offered Rs 316 crores, in the bid for the title sponsorship of the Twenty20 tournament.
IPL Chairman Rajeev Shukla said that the title-sponsorship contract was for five-year period and will end in 2017. Realty firm DLF ended its five-year-long association with the IPL as the title sponsor in August and the BCCI floated the tenders last month. DLF paid Rs 200 crore for the five year period of 2008-12. ‘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 told reporters after the meeting of the IPL Governing Council.
Deepika Warrier, Executive Director Marketing of Pepsico Beverages, said she was very 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. The rights include a number of branding and other marketing benefits.
IPL Chairman Rajeev Shukla said that the title-sponsorship contract was for five-year period and will end in 2017. Realty firm DLF ended its five-year-long association with the IPL as the title sponsor in August and the BCCI floated the tenders last month. DLF paid Rs 200 crore for the five year period of 2008-12. ‘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 told reporters after the meeting of the IPL Governing Council.
Deepika Warrier, Executive Director Marketing of Pepsico Beverages, said she was very 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. The rights include a number of branding and other marketing benefits.
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