Beverage major PepsiCo, which pulled out as title sponsors of the BCCI backed IPL in October, today entered into a four-year partnership with the apex cricket body as an associate sponsor for all its international matches at home.
This would make PepsiCo as BCCI's official partner for refreshment, snacks and drinks besides grounds right where the beverage firm would have visibility on the field.
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The announcement comes four months after PepsiCo had withdrawn as title sponsor of the Indian Premier League (IPL) by walking out from five year contract which was due to expire in 2017.
The agreement also gives PepsiCo benefits of prominence in In-Stadia branding and On-Ground advertising for 80 matches in four years across the three formats.
"Pepsico which has been our long term partner are back on the board again as a partner again us as official associate sponsor," said BCCI secretary Anurag Thakur here.
Besides, Pepsico, there would be two other official associate sponsors of BCCI, from which the cricket body would get Rs 150 crore for the next four years, Thakur said.
Names of the other two sponsors will be announced in the next 7-10 days, he added.
Mobile commerce platform Paytm is the official title sponsor of the BCCI.
"We have title sponsor which is Paytm. But we have opened up new revenue streams to get three more sponsors for us as official associate sponsor," said Thakur.
This would not only increase the engagement but enhance the revenue stream of BCCI also at the same time, he added.
"Pepsico is now going to partner BCCI, over the next four year sponsoring and being a ground sponsor for all matches - test, oneday and T20 - played in India," said PepsiCo India Chairman and CEO D Shivakumar.
Over disassociating with IPL, he did not come up with a specific reply.
"We clearly mentioned that time that we are not parting away with BCCI or cricket. We continue to be involved with IPL with some other franchise and that continues."
Pepsico has its association with cricket in India for over 25 years, he said.
Shivakumar further added: "I am sure that whatsoever needs to be done in order to improve the game that is something Manohar (BCCI president) and Thakur is fully aware of that and we have absolute confidence on them."
On being asked whether Pepsico would sponsor the women's cricket team, he said: "We would look into that".
However, he did not shared any time frame for that.