Soft drink manufacturer, Pepsi, agreed $12.5 million sponsorship deal with the Indian Premier League to become the official beverage of the IPL for the next five years.
Under the deal, Pepsi will pay $2.5 million a year. The money will be paid directly to the eight franchise owners. Mumbai, Delhi, Kolkata, Bangalore, Chennai, Mohali, Jaipur and Hyderabad are each set to receive $312,500 per year.
Pepsi has been the main sponsor of India’s domestic tournament for several years and has been associated with the International Cricket Council as its global sponsor.
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