Soft Drink giants Pepsi pipped leading telecom communications provider Bharti Airtel to become the new title sponsors of the Indian Premier League with a whopping winning bid of Rs 396.8 crores for the next five editions, starting 2013.
Pepsi’s not changing the game, but it’s definitely changing the name… Seasons 6 to 10 of the Indian Premier League will be known as the Pepsi IPL.
But this came with a hefty price tag. Pepsi paid the BCCI Rs 396.8 crore to be the title sponsor rights for the next 5 years. That’s almost 60% higher than the Rs 250 crore paid by DLF to purchase the title rights to the league in 2008.Sources say the only other bidder was Bharti Airtel which bid Rs 350 crore.
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