Pepsi, the cola brand, has acquired the title sponsorship for the twenty-20 cricket tournament, Indian Premier League (IPL), for the next five years.
Pepsi has paid about Rs 396 crore for the rights for the next five years, up from DLF's deal of Rs 200 crore. However, the Board of Control for Cricket in India (BCCI) apparently expected a higher amount. Apart from Pepsi, the closest bidder was a telecom brand.
It must be noted that as per the TAM Sports data, the television ratings of the tournament have been decreasing season on season. In its debut season in 2008, the tournament averaged at 4.81 TVRs. In the second and third seasons, the average of the tourney stood at 4.65 TVRs and 4.17 TVRs, respectively.
Subsequently, the average ratings further fell to 3.51 TVRs in Season 4 in 2011; while in the latest season in 2012, the league averaged at 3.45 TVRs. However, the reach of the league has increased from 1,02,414,000 viewers (in Season 1) to 1,62,934,000 viewers (in Season 5).