PepsiCo sent a notice to BCCI intending to withdraw its title sponsorship of IPL.
The reason behind the withdrawal is believed to be the disrepute that IPL has come across due to the spot-fixing scandal.
Playing down the incident, Rajeev Shukla, IPL Chairman, told media, “We keep on talking to our sponsors and we keep on negotiating with them. So that process is on throughout the year. There’s nothing new.”
Updating further on the issue, he said, “Shashank Manohar, the BCCI President, has also given instructions to concerned people in BCCI to talk to Pepsi and we are in constant consultation with PepsiCo. We will definitely work out on a solution.” (Also Read: #EndGameSrinivasan: Shashank Manohar confirmed as new BCCI Chief; Highlights from his speech)
If sources are to be believed, last year too PepsiCo had wanted to withdraw its sponsorship, but the BCCI managed to convince it not to. However, this time it is firm in its decision of discontinuing its association with the IPL.
IPL is a cash cow for BCCI and it would not want any sponsorship issue, especially when IPL 2016 is round the corner.