The Indian subsidiary of soft drinks group Coca-Cola has signed as a new global partner of the International Cricket Council, SportBusiness Sponsorship has learned.
SportBusiness Sponsorship understands that the ‘Proud Partner’ deal is contracted for five years, and can confirm reports in the Indian press that a deal announcement is imminent.
A report by InsideSport.com said that a formal announcement will be made today by ICC chief executive Dave Richardson and Coca-Cola India and South West Asia president T Krishnakumar.
The Indian business news site Business Standard said the deal size is estimated at INR 300 crore (€39m/$45m) over the five-year period till 2023 [one crore is equivalent to INR 10m].
The deal means that soft drinks rival PepsiCo, one of the sponsors for the Cricket World Cup 2015, will be sidelined for the upcoming Cricket World Cup 2019, to be played in England and Wales from May 20.
For more on the ICC’s sponsorship strategy, read ‘ICC signs Bira 91 deal, US tech brands to step up in 2019’