Sep 06, 2011 at 01:18 PM
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PepsiCo Extends 28-Year NFL Deal

PepsiCo and the National Football League today announced that both parties have agreed to renew their 28-year partnership with a new, multi-year agreement starting in 2012. The deal, according to the Wall Street Journal, is valued at nearly $100 million per year, and could see Pepsico spending up to $2.3 billion through 2022, less than half of which devoted to rights fees.

Both parties will form of a joint Innovation Task Force, which will develop new food and beverage concepts for fans as well as sideline innovations and enhancements to health and safety for athletes.

The NFL's sponsorship with Pepsico will continue to reach across the Purchase, New York-based company's portfolio of food and beverage brands. Gatorade, Pepsi Max, Frito-Lay and PepsiCo will continue to activate PepsiCo's NFL sponsorship, while Quaker Oats and Tropicana will be new additions to the deal.

"We love to be at the center of the NFL action and look forward to deepening the NFL's relationship with athletes and fans through best-in-class marketing, food and beverage innovation and retail experiences," said Indra Nooyi, PepsiCo Chairman and CEO. "The NFL is a year-round platform allowing us to engage and activate our collective brands in a true Power of One way like never before."

"We are pleased to expand and extend our long-standing partnership with PepsiCo," said NFL Commissioner Roger Goodell. "We look forward to making our partnership even better to deliver fans more NFL-themed promotions and programs throughout the season and year."

CNBC's Darren Rovell talked to PepsiCo CEO Indra Nooyi & Roger Goodell about the deal in the video below.