BCCI, Pepsi executing to resolve IPL worry

As per reports, BCCI is certain that now they are ready to address the concerns related to PepsiCo.

In an official statement, amid local media reports the global food and beverage giant, PepsiCo further declared that this time for the scandal-hit Indian Premier League (IPL), they want to end its title sponsorship.

BCCI, Pepsi executing to resolve IPL worry

Meanwhile, the reports further highlighted the fact that Cricket lords above other sports in India and IPL teams, with a $3.5 billion expected brand value, reckoning Bollywood stars and other leading companies such as Reliance Industries BSE -0.31 % as investors.

In the meantime, in 2012 for five years (2013-17), for Rs 3.97 billion ($61.31 million), the amount which was reported to be certainly the double that was given to the DLF, PepsiCo bagged the IPL title sponsorship rights.

Moreover, from 2008-12, for the same IPL title sponsorship rights, the country’s leading listed property developer, DLF paid lesser amount compared to PepsiCo.

On the other hand, in a joint statement , the board and the company further asserted that because the companies, BCCI and PepsiCo from a long time are having a strong business relations so they would certainly look out for a satisfying way out which addresses PepsiCo’s concerns.

BCCI chief, Shashank Manohar said, “As I told you that nothing wrong is being done in the board, however it is a perception that is being created in the minds of people that because the information does not come out, there is definitely something wrong in this board. Therefore to clear that myth and change the perception we would do this immediately.”