Mumbai: Indian Premier League has sold their title rights to PepsiCo for the next five seasons.

The processed foods and soft drinks company has brought the rights for whopping Rs 397 crore as per reports.

The sum is double to what was paid by the construction company DLF for their association with the tournament.

It was learnt that only two companies — PepsiCo and Bharti Airtel — submitted bids for the title rights. Airtel’s bid was around Rs 350 crore.

By Indian Sports News Network