The world’s second largest snacks and Beverages Company PepsiCo has warned BCCI about a potential backing out from the Indian Premier League sponsorship if the board fails to sort out the controversies surrounding the tournament.
PepsiCo earlier paid a whopping sum of Rs 396 crores to BCCI for being the title sponsorship of the tournament but the recent allegations of many players and teams being involved in spot fixing have forced the company to issue the warning.
“We are a highly ethical and principled organization. So we want to associate with organizations that are principled and ethical. We hope the current problems of IPL are short term and they are addressed. But if they are not we will have to go back and rethink,” Indra Nooyi, Chairperson and CEO of PepsiCo told Business Line.
The amount PepsiCo paid for the title sponsorship was almost double the amount paid by the previous sponsors which was a controversial decision among analyst. The BCCI are yet to respond to the warning.