IPL sells title rights to PepsiCo for $71m

Global beverage giant PepsiCo has bagged the IPL title sponsorship rights for the next five years (2013-17) for Rs 396.8 crore ($71.77 million approx), almost double the original title sponsorship deal done in 2008. Along with PepsiCo, the only other contender for the title sponsorships rights was Airtel, an Indian telecommunications company, who bid Rs 316 crore ($57.27 million approx). For the next five years the tournament is to be called Pepsi-IPL.
In 2008, DLF, Indian’s biggest real estate company, had paid a sum of Rs 200 crore ($36.25 million approx), to own title rights for the…

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