The BCCI Working Committee on Sunday announced the exit of PepsiCo as the title sponsor. Chinese mobile phone brand Vivo will take its place for the next two years. Though BCCI has not disclosed the deal amount with Vivo, the new deal is said to be worth Rs. 100 crore per year.
The title sponsor for IPL, PepsiCo, sent a notice to the BCCI last week expressing its interest to terminate the association with the league. The decision by Pepsi also gives way to other sponsors to introspect their association and could also result in them exiting too