PepsiCo, Inc. (NYSE:PEP) looks forward to beating The Coca-Cola Co (NYSE:KO) not only in terms of market reach, but sponsorship rights as well. According to reports, Pepsi is all set to overtake NBA sponsorship rights from Coke.
Insights On The Matter:
As per the reports published in Fortune, PepsiCo, Inc. (NYSE:PEP) announced on Monday that it would take over the National Basketball Association’s sponsorship rights from the rival Coke. Even though the financial details of the deal were not disclosed, but Fortune cited that the investment in this contract would be higher than the previous contracts. The details were disclosed by people close to this matter.
If everything goes right, then this new deal between Pepsi and NBA will involve some of the leading drinks of Pepsi like carbonated drinks, Lipton Brisk, Aquafina, and some other Frito snack products. Reporters tried to get in touch with someone from Pepsi, but the company declined to comment on this issue.
For the first time in the history, this new agreement will cover Women’s National Basketball Association, USA Basketball, and NBA Development League. As per the reports, Tingyi will manage all the NBA activities in China. Tingyi is a renowned food and beverage company based out of China. It’s the official partner of Pepsi in China; hence, the company has decided to appoint Tingyi as the exclusive partner of National Basketball Association in China through Master Kong brand.
Reporters contacted the representatives of Coke to know its reaction on this deal. Rather than speaking about Pepsi and NBA deal, Coke made public that it had signed a multi-year deal with Major League Soccer and United States Soccer Federation. It also announced that it would be the official beverage sponsor of Mexican National and U.S. Soccer teams during their tour to U.S. The company thinks that it will help it enhance its reach among sports lovers in U.S.
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