IPL: Pepsi wants out

New Delhi, October 9 

The BCCI said on Friday it will address the concerns raised by Pepsi, the title sponsor of its flagship tournament, the Indian Premier League (IPL). Media reports suggest the beverage giant has sent a notice to the BCCI expressing its intention to withdraw from IPL due to the spot-fixing case.  The company has reportedly sent a notice saying the decision was because of the issues that have brought the game into “disrepute”. The controversy-ridden IPL hit a new low when the Supreme Court recommended suspending two franchises — Rajasthan Royals and Chennai Super Kings —  for two years following an investigation into “into the 2013 betting and spot-fixing. Pepsi paid around Rs 396 crore in 2012 for the title sponsorship between for a five-year period between 2013 and 2017.

“BCCI and Pepsico have had a long-standing relationship. Pepsico has raised certain concerns with the BCCI,” the BCCI statement said. 

“BCCI has assured that steps will be taken to address the concerns and will work necessary solutions in the interests of the league as well as Pepsico. BCCI and Pepsico have been in amicable discussions and further update will be shared in due course.” — IANS