Pepsi has earned the midas gold boon after it had won the bid for sponsoring the further iteratios of IPL for another five years seizing them from DLF after it had bid an amount Rs 396 Crores.

The tough competition to the soft drinks giant was provided by Aircel which could bid no further than Rs 316 crores for the Title Sponsorship of the T20 league in India.

DLF the earlier sponsorship holder had completed its five year contract with the IPL after the tenders were floated by the IPL managements last month. Earlier the contract was worth Rs 200 crores for five years, 2008-12.

IPL has always been a money game with rich rewards associated with every move of the game starting from contracts to the trophies.

Pepsi now as the title sponsor has numerous benefits like branding, marketing benefits every match and many more as listed in the Invitation to Tender.

IPL Chairman Rajeev Shukla said that the title-sponsorship contract was for five.year period and will end in 2017.

(AW- Anil)