Beverage maker PepsiCo has exited the IPL T20 tournament as title
sponsor of the tournament and Chinese mobile phone maker Vivo will be
the new title sponsor of the tournament, two officials aware of the
development said.
PepsiCo officials declined comment on the development. BCCI officials could not be reached for comment.
"Vivo is a mobile phone maker wants to establish its presence in India and the IPL will give it the platform it needs for visibility," another official involved with the developments said.
PepsiCo will continue to be associated with the IPL as beverage partner with the independent IPL teams.
BCCI is holding a meeting tomorrow (Sunday) to announce the new title sponsor. PepsiCo and BCCI are learnt to have worked out a mutual agreement on the exit.
"Pepsi had raised concerns about ethics in the IPL tournament and had been in discussions with BCCI on how these concerns can be addressed. The company is very clear that it doesn't want to be associated with a controversy ridden sport," one of the officials quoted earlier said.
Read more about the IPL Controversy
PepsiCo had committed to pay Rs 396.8 crore for being the title sponsor for IPL from 2013 to 2017, replacing previous sponsor DLF.
Globally, Pepsi chairman Indra Nooyi has already said that the company will only associate with ethical and clean sporting properties. PepsiCo had earlier terminated its contract with ace golfer Tiger Woods during the sex scandal. It had also terminated its contract with singer Beyonce over controversies.
PepsiCo officials declined comment on the development. BCCI officials could not be reached for comment.
"Vivo is a mobile phone maker wants to establish its presence in India and the IPL will give it the platform it needs for visibility," another official involved with the developments said.
PepsiCo will continue to be associated with the IPL as beverage partner with the independent IPL teams.
BCCI is holding a meeting tomorrow (Sunday) to announce the new title sponsor. PepsiCo and BCCI are learnt to have worked out a mutual agreement on the exit.
"Pepsi had raised concerns about ethics in the IPL tournament and had been in discussions with BCCI on how these concerns can be addressed. The company is very clear that it doesn't want to be associated with a controversy ridden sport," one of the officials quoted earlier said.
Read more about the IPL Controversy
PepsiCo had committed to pay Rs 396.8 crore for being the title sponsor for IPL from 2013 to 2017, replacing previous sponsor DLF.
Globally, Pepsi chairman Indra Nooyi has already said that the company will only associate with ethical and clean sporting properties. PepsiCo had earlier terminated its contract with ace golfer Tiger Woods during the sex scandal. It had also terminated its contract with singer Beyonce over controversies.
Source: http://www.adageindia.in/marketing/news/its-final-chinese-handset-maker-vivo-replaces-pepsico-as-ipl-sponsor/articleshow/49435023.cms
Comments
Post a Comment