VIVO Replaces PepsiCo As Indian Premier League Title Sponsor
In 2013, PepsiCo became title sponsors of the IPL after they bid a whopping Rs 396.8 crore. In 2015, the beverage giant PepsiCo’s decision to end its deal with IPL was reportedly caused by the spot-fixing scandal which shook the game. However, the company did not come on record to specify the reasons.
In the 2013 season of the IPL, Ajit Chandila, Ankeet Chavan and S Sreesanth were arrested over charges of spot- fixing. Then there were allegations that Chennai Super Kings team principle Gurunath Meiyappan, and Raj Kundra, co- owner of Rajasthan Royals, were involved in betting.
The BCCI banned the three cricketers for life. To investigate the scandal, the Supreme Court appointed the Justice Mudgal committee.
Earlier in July, the Supreme Court appointed the Justice RM Lodha panel and the quantum of punishment was decided, with CSK and Rajasthan Royals banned from the tournament for two years. On the other hand, Meiyappan and Kundra, were banned for life.
Among other decisions taken during the meeting, Nike was retained as the apparel sponsor of the Indian cricket team.
Normally the deal was scheduled to end in 2017. Before Pepsi, DLF had paid Rs 200 crore to become title sponsors of the tournament from 2008 till 2012.