Beverage giant PepsiCo has sent a notice to the Indian cricket board expressing its intention to withdraw from the IPL as title sponsor because of the controversy surrounding the spot-fixing case. Sources said the company has said in its notice that the decision was related to issues that have brought the game into “disrepute”.
According to Indian Express, PepsiCo has informed the 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. Raman is believed to have informed newly elected BCCI president Shashank Manohar about the development.
Sources in the IPL and BCCI confirmed to the newspaper that PepsiCo has decided to cut its ties with the IPL. The company did not respond to calls and texts seeking comment. PepsiCo had previously hinted that it was considering such a move.
“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,” said an IPL source.
The BCCI will take up PepsiCo’s notice during its working committee meeting in Mumbai on October 18.
