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Pepsi wants to withdraw from IPL’s title sponsorship
Posted On Oct 10 2015
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As reported by The Indian Express on Friday, PepsiCo had chose to cut its ties with the IPL as a result of the spot-fixing crisis that had brought the game into “disrepute” thereby further dampening the reputation of the cash-rich league. Indian Premier League chairman Rajeev Shukla 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”.
“BCCI has assured that steps will be taken to address the concerns and will work necessary solutions in the interests of the league as well as Pepsico”.
While sources from the IPL confirmed the decision by the sponsor that invested Rs 396 crore for a period of 2013-17, there has been no official confirmation from Pepsi’s side.. What they seem to be saying is, “Listen we have a problem”. Talks are going on in a very cordial relationship.
If Pepsico eventually pulls out, it will be the second corporate to end its relationship with IPL as the title sponsor. They have certain points and we are going to settle them amicably in the next meeting. He even likened the Pepsi-IPL issue to the FIFA scandal that has rocked global football and has resulted in Sepp Blatter being suspended. Before Pepsi, the IPL’s title sponsor was DLF.
The panel was established by India’s Supreme Court after a separate committee had carried out the investigation into the scandal, which broke in 2013. This resulted in accusations that Gurunath Meiyappan, Chennai Super Kings team principle and Raj Kundra, co-owner of Rajasthan Royals, were involved in betting.
Pepsi’s intended withdrawal is likely to be discussed when BCCI convenes its working committee meeting in Mumbai on 18 October.
Shashank Manohar, who was elected last Sunday unanimously as the new president at the Board SGM after the sudden demise of incumbent Jagmohan Dalmiya on September 20, is expected to tell the members in detail about the slew of reforms he had announced at the media conference soon after being anointed as the new chief.
