China's Vivo to Replace PepsiCo as India Cricket Sponsor: Timesby
Cricket board meeting on Sunday to announce new sponsor
PepsiCo had committed to pay about 4b rupees 2013-2017
PepsiCo Inc. has given up its title sponsorship of India’s premier cricket league and Chinese mobile phone maker Vivo Communication Technology Co. will replace it, the Indian newspaper Economic Times reported, without saying where it got the information.
The beverage company had raised concerns about ethics in the Indian Premier League, according to the report. It added that the Board of Control for Cricket in India will hold a meeting on Sunday to announce the new sponsor.
Pepsi officials declined comment while officials from the BCCI couldn’t be reached, the report said. Bloomberg e-mails to Pepsi, the BCCI and Vivo weren’t immediately answered on Sunday.
Pepsi, which had committed to pay about 4 billion rupees ($62 million) as title sponsor of the tournament from 2013-2017, will stay as beverage sponsor of individual teams, the report said.