23.11.12

It's the Pepsi IPL now !



Beverage and snacks maker PepsiCo has won the title sponsorship rights of the Indian Premier League (IPL) for the next five seasons for Rs.396.8 crore. PepsiCo’s bid was at almost 25% premium over the minimum bid amount and some 20% higher than the only other bidder, Bharti Airtel.
At Rs.80 crore a year, many industry experts termed the sponsorship of the Twenty20 league too costly.
The Board of Control for Cricket in India (BCCI) marketing committee had fixed a minimum bid price of  Rs.60 crore a year or Rs.300 crore for five years starting 2013. Bharti Airtel had bid Rs.315 crore for the five-year term. Coca-Cola had opted out of the bidding due to the steep asking price.
At almost Rs.400 crore, PepsiCo has committed twice the amount paid by real estate giant DLF for IPL title sponsorship for the first five seasons.
The title sponsor gets access to a series of brand and marketing benefits. The IPL annual event, held in April-May, coincides with the peak summer season when beverage companies spend the biggest chunk of their annual marketing budgets.

1 comment:

WMD said...

Waiting badly for IPL6 dhamaka