IPL likely to get title sponsorship by Coca-Cola as Pepsi backs out citing ethical issues
The next edition of Indian Premier League (IPL) is likely to be sponsored by Coca-Cola as Pepsi has backed out from the sponsorship. The reports suggest that Coca-Cola has approached the popular twenty20 tournament’s management for title sponsorship.
The Coca-Cola officials have already met Mumbai Indians and Delhi Daredevils. The beverage giant is expected to hold talks with other teams soon. For the first time after three years, the Coca-Cola will be associating itself with India’s largest domestic sports event. Pepsi had sponsorship and beverage rights for the IPL during this period. Both companies are at very competitive spot in the beverages segment. Coca-Cola IPL
The Coca-Cola spokesperson informed press that some of the IPL teams have shown enthusiasm in tie-up with the company. The brand IPL has suffered lot due to betting and spot-fixing scandal. But the event is expected to attract money and business as usual. The Supreme Court committee has already banned popular teams such as Chennai Super Kings and Rajasthan Royals.
The public relations experts and branding gurus still recommend association with the IPL as it helps in growing the national footprint of the brand. The Pepsi refused to go ahead with its five-year contract with IPL last year due to its poor record on the ethics front. So for remaining two years, Vivo, a Chinese smartphone maker has taken the responsibility of title sponsorship.
The IPL is attractive for business in India due to its grand scale and national appeal. It is a perfect combination of cricket, Bollywood and business. The high TRP ratings of IPL matches makes it very attractive to the ad industry. We have previously seen brands making IPL specific advertisements for their own good. With the increasing rivalry in the beverages segment, the title sponsorship to IPL will give Coca-Cola an edge over Pepsi