Moreover, from 2008-12, for the same IPL title sponsorship rights, the country’s leading listed property developer, DLF paid lesser amount compared to PepsiCo.
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According to the report, Pepsi “has informed the IPL’s chief operating officer Sundar Raman about its intention to withdraw from the title sponsorship…”
In an official statement, amid local media reports the global food and beverage giant, PepsiCo further declared that this time for the scandal-hit Indian Premier League (IPL), they want to end its title sponsorship. We hope the current problems of IPL are short-term and they are addressed. “They have certain points and we are going to settle them amicably in the next meeting”, he said.
PepsiCo and BCCI released a joint statement which read, “BCCI and PepsiCo have had a longstanding cordial relationship and have been in discussions to work out a solution which addresses PepsiCo’s concerns”. “We are addressing their concerns and they are addressing our concerns. Whatever is going to happen is going to happen in a very smooth manner”, Shukla said.
As reported by The Indian Express, Pepsi is considering distancing itself from IPL following the disrespect that the IPL has been accused of bringing to the gentleman’s game.
IPL chairman Rajiv Shukla confirmed that the BCCI will not enter into any legal dispute with PepsiCo, which had signed a deal worth Rs 396 crore in 2012. This resulted in accusations that Gurunath Meiyappan, Chennai Super Kings team principle and Raj Kundra, co-owner of Rajasthan Royals, were involved in betting. The decision, understood to be linked to the negative publicity enveloping the tournament following the 2013 corruption scandal, will be the first major setback in terms of perception for Shashank Manohar, the new BCCI president, who was elected largely because of his clean image.
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The previously adjourned meeting of the BCCI’s all-powerful working committee has been reconvened on October 18 here and is set to be a crucial one with many issues confronting the Board.
