Pakistan Cricket Takes 30-40% Haircut On Pepsi Renewal

Among other COVID-related sponsorship woes, the Pakistan Cricket Board (PCB) has had to renew its contract with long-term primary sponsor, Pepsi, but on a cut-price basis.

The PCB’s previous contract with Pepsi expired earlier in 2019, with the organisation seeking more lucrative terms than those Pepsi had been willing to offer. However, the  COVID-19 pandemic has ruled out its ability to command those fees and its renewal is worth about 35 to 40-per-cent less than their previous deal.

Local media reported that no other brands were forthcoming with interest for this main sponsorship deal.

The PCB was looking to fill the position ahead of the three-match test series and three match T20 series set to take place in England next month, August 2020. The PCB has also recently added mobile financial services platform EasyPasia as a sponsor for the tour of England, which begins on August 5.

The association between the multinational soft drink brand and PCB dates back over two decades and will now run until June 2021.