Pepsi to replace Coke in NBA marketing deal
PepsiCo will sponsor the National Basketball Association, ending a 28-year deal between its arch rival Coca-Cola and the NBA.
PepsiCo will be the official food and drinks partner of the NBA, the Women's National Basketball Association, NBA Development League, and USA Basketball.
The deal, which starts next season, covers North America, and also China, where NBA is growing in popularity.
Financial terms of the sponsorship were not disclosed.
"The NBA has established itself as one of the most exciting and innovative sports leagues in the world," PepsiCo chief executive Indra Nooyi said.
"We look forward to working together to redefine the meaning of sports marketing partnership."
The new deal will involve the Pepsi range, as well as the company's Aquafina and Lipton Brisk drinks, and Doritos and Ruffles crisp brands. Mountain Dew will become the NBA's lead soft drink brand.
Coca-Cola said it had "made the decision not to renew our global contract" with the NBA, but would continue sponsoring individual teams and players.
Meanwhile, Coca-Cola said it had signed a multi-year agreement with the US Soccer Federation and Major League Soccer, and that it would be the beverage sponsor for the US football and the Mexican national teams' US tours.
PepsiCo has had sponsorship agreements with Major League Soccer since its inaugural 1996 season.