The Indian Premier League (IPL) will have a new title sponsor in its next edition as Pepsi has, reportedly, sent a notice to BCCI expressing its interest to terminate the association with the league.
The company is keen to walk out on its five-year title contract, due to expire in 2017, citing the issue of IPL bringing “disrepute” to the game. However, BCCI sources claimed that Pepsi wants to end the deal due to its dipping foreign interests, say market reports.
It is being reported that BCCI is in talks with all those interested in bagging the rights and get it transferred from Pepsi.
IPL chairman Rajeev Shukla has said the Pepsi deal is “not a big issue” and the board is in talks with other sponsors as well to settle the issue “amicably”, state medi reports.
It is being said that Pepsi wants to withdraw from the sponsorship because of the 2013 spot-fixing scandal that tarnished the IPL's reputation. It had paid Rs 396 crore (US $71.77 million) for the period 2013-2017.
The BCCI will take up the matter during its working committee meeting in Mumbai on October 18, say market reports.