The beverage giant PepsiCo has sent a notice to the Indian cricket board, the BCCI expressing its intention to withdraw from the IPL as title sponsor. Pepsi explained that its decision of wanting to be out of IPL is because of the controversy surrounding the spot-fixing case. Sources said Pepsi has said in its notice that the decision was related to issues that have brought the game into “disrepute”.
PepsiCo notice states: “BCCI was duty-bound to ensure that the game of cricket was played in accordance with the best practices to maintain the public confidence in its purity.” Pepsico also states in the notice that it has “fulfilled all of its obligations under the Agreement and is not in breach of the terms of the Agreement in any manner”, but suggests that the BCCI didn’t do its part. The notice also refers to the conduct of the then BCCI president and owner of Chennai Super Kings N Srinivasan in poor light, “President of BCCI was acting in conflict of interest as the regulator of the IPL and at the same time as having commercial interest in the IPL”, notice states.
PepsiCo, the lead sponsor of the IPL, has reportedly informed the IPL’s Chief Operating Officer (CEO) Mr. Sundar Raman about its intention to withdraw from the title sponsorship for which it had paid approximately $70 million for the period 2013-2017. Raman is also believed to have informed newly elected BCCI president Shashank Manohaher about the development and BCCI will reportedly take up PepsiCo’s notice issue during its working committee meeting in Mumbai on October 18.