PepsiCo Coughed Up Double Amount than DLF to Be Next 5 Years IPL Sponsor

PepsiCo left behind Airtel in the race to win Indian Premier League (IPL) title sponsorship for 396 crore Rupees, which is approximately double of the previous right holders- DLF. DLF had paid 200 crore Rupees in 2008 to be the rights holder of IPL. Pepsi has now acquired this right for next 5 years starting from 2013.

After meeting on 21 November 2012, the marketing committee of the cricket board two tenders was opened. Airtel offered 316 crore Rupees for the rights. Twentieth Century Media, Pepsi rival Coca Cola, Gameplan and Star TV picked up this tender but did not bid. The chairman of the marketing committee Farooq Abdullah was extremely pleased since the winning bid value reflected the success and growth of IPL. Governing council chairman or IPL, Rajeev Shukla welcomed Pepsi to central sponsorship pool of Pepsi.

Some of the industry analysts believed that Pepsi might have overpaid for acquiring these rights. PepsiCo vice-president insisted that it was worth the deal because IPL had emerged as major sporting event which has the capability of competing against any event across world.