New Delhi: The sixth season of the Indian Premier League will be called Pepsi IPL after the soft-drink manufacturing company bagged the title sponsorship of the cash-rich T20 tournament for Rs 396.8 crore.
The T20 league got the new sponsor after the country's largest realty firm, DLF, their title sponsor for five years, decided not to renew its contract in July. The company had spent Rs 250 crore in five years for IPL.
Apart from Pepsi, Aircel was the only other bidder. Aircel had offered Rs 316 crores.