Image Source: Pepsi
The NFL and Pepsi just renewed their sponsorship deal; however, the league didn’t include the Super Bowl halftime show in the negotiation.
For almost four decades, the soda and snacks company has been a partner of the NFL. This year, another renewal was agreed upon in Atlanta during the spring meeting.
The NFL and Pepsi have renewed their sponsorship agreement for another period, giving the company’s brands like Tostitos or Frito Lay access to premium rights. In addition, Pepsi got pouring rights in any events that include an NFL Draft, while Gatorade retains its high visibility on the sidelines as before.
The terms of the renewal were not revealed – but sources say that the last deal between NFL and Pepsi amounted to $2 billion for ten years.
Tracie Rodburg, NFL’s senior vice president of sponsorship management, said, “Our priorities and their priorities have evolved, and we wanted to make sure that as we continue this partnership that we’re all working toward the same goal.”
The removal of Pepsi’s rights from the Super Bowl halftime show did not surprise many. In the latest Super Bowl, hip-hop icons like Dr. Dre and Snoop Dogg performed in front of thousands of crowds. Before Pepsi, Bridgestone owned the rights. Now, it’s available to anyone in the market who wants to earn the rights.
This would be the second time since 2012 that Pepsi was not given the rights to the Super Bowl.
Former vice president of global sports and entertainment marketing from Anheuser-Busch said that it is “tough to justify” the potential cost of the recent removal by the NFL.
In the 2021 season, Pepsi spent more than $114 million during the events, including the playoffs. In the year preceding that, the company spent around $127 million. In addition, Pepsi has 15 deals with clubs in the NFL, including the Dallas Cowboys.
The NFL has announced that they might change the pre-draft scouting event from Indianapolis to either Dallas or Los Angeles.
NFL team owners have also said that they will keep the combine event in Indianapolis this 2023 and 2024. The league’s combine events often earn millions; in 2022, the earnings reached $9.6 million.
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