Coca-Cola ends 108-year deal with Madison Square Garden as Pepsi takes over

By mcpherrin mcpherrin

Pepsi is set to replace Coca-Cola and become the exclusive non-alcoholic drink to every Madison Square Garden (MSG) Company property from the start of September, CNBC reports.

Coca-Cola’s 108-year-old partnership with the firm has come to an end, with Coca-Cola’s original deal having been signed in 1910.

Scott Rothbort, founder and president of LakeView Asset Management, believes the new joint venture isn’t a financially motivated gain but more of a symbolic one for Pepsi.

"I don't think it's really going to move the needle in terms of Pepsi's earnings," he said Tuesday (24 July) on "Closing Bell."

The new deal will see all Coca-Cola products phased out by 1 September and replaced directly with Pepsi across all MSG locations.

See more:

General Motors first major automaker to embrace peer-to-peer car sharing

MatchaBar completes $8mn funding round as it launches new drink

Starbucks set to launch first US sign-language store

The partnership will also see Pepsi become an official partner of MSG’s sports and other franchises which include the Christmas Spectacular and supporting the New York Knicks and Rangers.

In addition, the beverage giants will see its exposure increase further as MSG will rename its eight-floor concourse after Pepsi.

Pepsi has previously replaced Coca-Cola on another occasion when in 2015, the firm completed a deal to be the exclusive food and beverage sponsor of the National Basketball Association (NBA) and ended Coca-Cola’s 28-year association in the process.

Share

Featured Articles

Hema Gokal: leading the Salesforce women's equality strategy

Always passionate about giving women a seat at the table, Hema Gokal is now spearheading Salesforce’s innovative new global female equality strategy

Top 10 cybersecurity specialists in the US

As cyber attacks grow in frequency and become increasingly sophisticated, Business Chief looks at the top 10 cybersecurity specialists in the US.

Silicon Valley Bank collapse: How did we get here?

US authorities have stepped in to protect all Silicon Valley Bank customers following the second-largest bank failure in the country's history

Top 10 best new leadership books by women to read in 2023

Leadership & Strategy

Eight of the best business leadership podcasts

Leadership & Strategy

CEO John Pagano, leading Saudi Arabia's Red Sea Global

Leadership & Strategy