The BCCI is looking at raising its revenues to up to Rs 150 crore over four years and it has revealed that roping in Pepsi as the "beverage and snacks sponsor" of the cricket board is the first step towards that goal.
It was only in October last year that the beverage giant pulled out as the title sponsor of the Indian Premier League (IPL). Pepsi, who was roped in as the sponsors for the cricket tournament in 2013, decided to call it quits expressing concerns over the controversies and ethical issues confronting the IPL lately.
Vivo has been roped in as the title sponsor of the IPL for the next two years.
"PepsiCo will be BCCI's beverage and snacks sponsor on ground over the next four years for international fixtures in India," BCCI secretary Anurag Thakur explained on the new collaboration Thursday, as quoted by Cricket Next.
"On the day Pepsi pulled out as IPL sponsors, they said they are always there with BCCI in one way or the other," he added.
The BCCI also announced that it will be announcing two more associate sponsors for the Indian Cricket Team in the coming days and the trio will help in meeting the expectation of garnering a revenue of Rs. 150 crore in four years.
"We not only want to increase fan engagement but also work upon revenues. Three associate sponsors in total will help BCCI raise a revenue of Rs 150 crore in 4 years," Thakur said.
Thakur and D Shivakumar, CEO, PepsiCo, also attended a press conference together on Thursday.
