Beverage major PepsiCo, which pulled out as title sponsors of BCCI's Indian Premier League in October, on Thursday entered into a four-year partnership with the apex cricket body as an associate sponsor for all its international matches at home.
This would make PepsiCo as Board of Control for Cricket in India's official partner for refreshment, snacks and drinks besides grounds right where the beverage firm would have visibility on the field.
The announcement comes four months after PepsiCo had withdrawn as title sponsor of the IPL by walking out from a five-year contract which was due to expire in 2017.
The agreement also gives PepsiCo benefits of prominence in In-Stadia branding and On-Ground advertising for 80 matches in four years across the three formats.
"Pepsico which has been our long term partner are back on the board again as a partner again us as official associate sponsor," said BCCI secretary Anurag Thakur in New Delhi.
Besides, Pepsico, there would be two other official associate sponsors of BCCI, from which the cricket body would get Rs 150 crore for the next four years. The names of the other two sponsors will be announced in the next 7-10 days, Thakur added.
Mobile e-commerce platform Paytm is the official title sponsor of BCCI.
"We have title sponsor which is Paytm. But we have opened up new revenue streams to get three more sponsors for us as official associate sponsor," said Thakur.
This would not only increase the engagement but enhance the revenue stream of BCCI also at the same time, he stated.
"Pepsico is now going to partner BCCI, over the next four year sponsoring and being a ground sponsor for all matches - Test, One-Dayers and T20 - played in India," said PepsiCo India Chairman and CEO D Shivakumar.
Over PepsiCo's pull out from the IPL last year, he did not come up with a specific reply.
"We clearly mentioned that time that we are not parting away with BCCI or cricket. ... We continue to be involved with IPL with some other franchise and that continues."
Pepsico has its association with cricket in India for over 25 years, he said.
"I am sure that whatsoever needs to be done in order to improve the game that is something Manohar (BCCI president) and Thakur is fully aware of that and we have absolute confidence on them," he added.