New Delhi: PepsiCo may not rebid for title sponsorship of the Indian Premier League after its five-year contract ends in 2017, three industry insiders said, a day after a Supreme Court panel called for the suspension of two IPL teams for two years.
“There has been too much controversy in the IPL and the internal thought process is that the company doesn’t want to re-bid for the title sponsorship,” said an executive with knowledge of internal discussions at Pepsi.
“Title sponsorship is a direct association with the brand image, which directly risks getting impacted by controversy,” the executive said.
PepsiCo won the right to attach its name to the tournament with a .`396 crore bid for a five-year period that started 2013, the very year in which the spot fixing scandal broke with the arrest of three cricketers. Pepsi’s bid was almost twice what the previous sponsor, real estate firm DLF, had paid the Board of Control for Cricket in India ( BCCI) for the 2008-12 term.