Already in a spot after two of its most popular teams – Chennai Super Kings and Rajasthan Royals were suspended for two years , now comes another blow . The The cash-rich Indian Premier League will in all likelihood now have a new title sponsor in its next edition after PepsiCo expressed its interest to terminate its association with the BCCI.
The beverage giant is keen to walk out on the five-year title contract, due to expire in 2017, because of the cash-rich league bringing “disrepute” to the game.
Meanwhile, 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”.
“We are in talks with other sponsors as well, so the title deal with Pepsi is not that big an issue. They have certain points and we are going to settle them amicably in the next meeting,” Shukla said.
“They have been a very good partner all this while and we do not want to disturb our relationship with them. Whatever is going to happen is going to happen in a very smooth manner,” he added.
Pepsi wants to withdraw from the sponsorship because of the 2013 spot-fixing scandal that tarnished the IPL’s reputation. It had paid Rs 396 crore (US $71.77 million) for the period 2013-2017.
The BCCI will take up the matter during its working committee meeting in Mumbai on October 18.