PepsiCo in talks with BCCI to work out a solution

Our Bureau Updated - January 22, 2018 at 11:05 PM.

Bottles of Pepsi cola are seen in a display at PepsiCo's 2010 Investor Meeting event in New York, in this March 22, 2010 file photo. PepsiCo Inc raised its full-year earnings forecast and said snack sales helped its quarterly profit beat expectations, sending its shares up more than one percent in morning trading October 9, 2014. REUTERS/Mike Segar/Files (UNITED STATES - Tags: BUSINESS)

In a joint statement, the Board of Control for Cricket in India(BCCI) and PepsiCo India said on Friday that, “BCCI and PepsiCo have had a longstanding cordial relationship and have been in discussions to work out a solution which addresses PepsiCo’s concerns. Both parties will share it when ready.”

This came after reports emerged that said PepsiCo, the title sponsor, of Indian Premier League, had expressed its intentions to terminate its association with BCCI after the spot-fixing scandal hit the image of IPL.

In 2012, PepsiCo, had bagged the title sponsorship contract till 2017 for about Rs 396 crore.

The T20 cricket league has been mired in controversies since the spot-fixing scandal broke in 2013. In a further blow, the Supreme Court appointed Lodha Committee had given its decision to ban Chennai Super Kings and Rajasthan Royals in July this year.

Published on October 9, 2015 12:04