Cola major Pepsi will be the new title sponsor of Indian Premier League (IPL) beginning season 6. It is understood that Pepsi has bid Rs 3.96 billion to bag the title sponsorship rights which is almost double of what DLF was paying.
The BCCI had last month floated a fresh tender for awarding title sponsorship after DLF refused to renew the deal. The real estate major was paying Rs 400 million per year as the title sponsor of the franchise-based league.
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