Mumbai, May 24: With the Indian Premier League reeling under spot-fixing scandal, there were reports in newspapers on Friday that title sponsor PepsiCo might pull out of the cash-rich Twenty20 league. But the company has brushed aside those speculations.
"The stories in a certain section of the media today, on PepsiCo regarding IPL are speculative in nature. As a company policy we do not comment on speculation. PepsiCo has not sent any communication to BCCI as referred in a certain section of the media," a statement by PepsiCo said on Friday.
A report in "The Times of India" said Pepsi were considering pulling out of IPL due to the recent controversies.
"First, they overpaid for the rights, almost double of what DLF (the previous title sponsor) did. Now, they are under pressure not just because of the money but because the fixing allegations have put the IPL in a negative light," the report quoted an unnamed senior PepsiCo official.
PepsiCo paid Rs 396.8 crores to win the title rights for five years of IPL from 2013.