Drinks and snack giant, Pepsi has renewed its long-running sponsorship deal with the National Football League (NFL), though it will no longer sponsor the Super Bowl halftime show.
The extension, continuing a nearly four-decade partnership, will allow Pepsi to continue using NFL premium rights for its various brands, including Frito-Lay and Gatorade. This includes pouring rights at major NFL events, including the draft.
The terms of the renewal were not disclosed, although the previous agreement was worth $2 billion over ten years.
Pepsi also confirmed it would no longer sponsor the NFL’s Super Bowl halftime show. The brand has sponsored the event for the last yen years, having replaced Bridgestone.
The NFL has been eyeing a new partner for the show, and was courting technology and media companies in February. The league was purportedly hoping for a deal worth between $40 million and $50 million.
