The deal, reportedly worth between $50-70 million over eight years (2007-15), is expected to be signed this week, The Economic Times said.
Despite some doubts about renewing the contract with the ICC, sources close to negotiations said that PepsiCo saw itself a brand which is built around cricket.
The global sponsorship rights for the 2000-07 period, which were with Hutch, LG, PepsiCo and Hero Honda, had been signed for approximately $25-30 million per sponsor, the report said.
The new global sponsorship deals will start with the Twenty20 World Cup on September 11 in South Africa.
