Pepsi taking over NBA sponsorship from rival Coke

April 13, 2015 6:38 PM

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Pepsi taking over NBA sponsorship from rival Coke

"We remain fans of the NBA and have shared remarkable experiences during our 28-year partnership, however we have made the decision not to renew our global contract at the end of the 2014/2015 season. The Coca-Cola Company has committed an incremental $1 billion toward its brands over the next three years, and with this commitment comes the need to focus on the most effective and efficient investments to maximize brand growth. The company will continue to have a strong presence within basketball culture through our relationships with iconic players. We will also continue to be visible through ongoing relationships with individual teams and venues," according to a statement from a Coke spokeswoman.

"We remain fans of the NBA and have shared remarkable experiences during our 28-year partnership, however we have made the decision not to renew our global contract at the end of the 2014/2015 season. The Coca-Cola Company has committed an incremental $1 billion toward its brands over the next three...

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