By BV Swagath
The BCCI has announced that PepsiCo has bagged the title sponsorship for the Indian Premier League. The rights of the IPL title has been bought by PepsiCo for a sum of Rs. 396.8 crore for the next five seasons through bidding.
The previous Title sponsors for the IPL was the real estate giant DLF. So with this we would be hearing something like Pepsi IPL from season 6 of the Indian Premier League. It has been revealed that the DLF Company had bought the title rights for 200 crores from 2008 to 2012.
According to a BCCI release, IPL Governing Council Chairman, Rajeev Shukla is quoted to have said: “PepsiCo are one of the largest sponsors in world sport and we look forward to working with them over the next seasons. I would also like to take this opportunity to thank DLF for its confidence in the IPL to become the league’s first title sponsor in 2008.”