New Delhi: In what could be a blow for the Indian Premier League (IPL), beverage giant PepsiCo has sent a notice to the Board of Control for Cricket in India (BCCI) expressing its desire to withdraw as the title sponsor of the tournament due to the spot-fixing controversy which has marred the league, reports The Indian Express.
According to the report, PepsiCo has informed IPL’s chief operating officer Sundar Raman about its intention to withdraw from the title sponsorship for which it had paid Rs 396 crore ($71.77 million) for the period 2013-2017.
The IPL COO is believed to have informed newly elected BCCI president Shashank Manohar about the latest development.
Last season, Pepsi wanted to withdraw, especially in the aftermath of the spot-fixing case but the BCCI managed to convince it to stick on for another year. However, this time it was firm that it will not continue its association with the IPL, more so after the Lodha Committee recommended the suspension of Chennai Super Kings and Rajasthan Royals. The conflict of interest issues also had an impact.
- an IPL source
The BCCI will take up PepsiCo’s notice during its working committee meeting in Mumbai on October 18.
Source - Indian Express