TOM CANAVAN
AP Sports Writer - October 23, 2009
EAST RUTHERFORD, N.J. (AP) — PepsiCo signed an agreement to become the fourth cornerstone partner for the new stadium for the Jets and Giants.
The New Meadowlands Stadium Corporation announced the multiyear deal on Thursday. No contract deals immediately available.
MetLife, Verizon and Budweiser had previously signed contracts to be cornerstone partners for the $1.6 billion stadium that is scheduled to open next spring with a concert by Bon Jovi. The first NFL game will be played in the summer.
The teams are still looking to sell the naming rights to the new stadium, which is being constructed next to Giants Stadium.
PepsiCo offers the world's largest portfolio of food and beverage brands.
The deal will begin at the start of the 2010 season. It will give the company beverage exclusivity at the stadium for all non-alcoholic beverages. Pepsi and Gatorade will continue to be the official soft drink and sports drink of the teams.
"We have enjoyed great partnerships with the Jets and Giants over the years and now we're taking it to the next level by joining them in their new state-of-the-art facility," said Jeff Dubiel, Pepsi's vice president of sports marketing. "With the stadium essentially in our backyard, we've seen firsthand the incredible excitement and anticipation it's bringing to the New York area."
As a cornerstone sponsor, PepsiCo will receive exterior branding on the stadium's facade, signage throughout the concourses, and in-stadium branding.
"In what is a challenging time economically, the fact that we have attracted four major corporate sponsors for the stadium is significant," said Mark Lamping, president and chief executive officer of New Meadowlands Stadium Co.
Gatorade, which is owned by PepsiCo, has been the sports drink of the Jets and the Giants players for more than 25 years. Pepsi has been the official soft drink of the NFL since 2002, the Giants since 2003 and the Jets since 2004.
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