Pepsi pulling out of IPL?

The highly-successful Indian Premier League could have a new title sponsor in its next edition after beverage giant PepsiCo expressed its interest to terminate the association with the BCCI.

PepsiCo, which had bagged the title sponsorship contract till 2017 by paying a whopping Rs 396 crore, is keen to pull out since the game has been brought into disrepute in the wake of the spot-fixing scandal.

The company is now in talks with the BCCI to settle the issue.

"BCCI and PepsiCo have had a longstanding cordial relationship and have been in discussions to work out a solution which addresses PepsiCo s concerns. Both parties will share it when ready," a joint statement issued by PepsiCo and BCCI said.