PepsiCo is pulling out of its sponsorship with the National Hockey League, as part of its revamp of its sports-related marketing.
PepsiCo’s Gatorade brand had been an NHL sponsor since 2006, with the most recent renewal signed in 2018. But the company has announced that it will not be renewing that five-year deal.
Gatorade currently has similar sponsorship deals with the National Football League and Major League Baseball. However, PepsiCo has determined that its future in sports sponsorship lies in less prominent areas such as women’s sports and college athletics.
“For us, the future of sport means continuing to invest in young and diverse athlete communities, cutting edge leagues, and embracing all athletic journeys,” Jeff Kearney, Gatorade’s head of sports marketing, wrote in a LinkedIn post.
The marketing potential in college athletics increased significantly when the National Collegiate Athletic Association last July started allowing student-athletes to receive money for sponsorship and endorsement deals.